MGO One Seven LLC Buys 1,057 Shares of Raymond James Financial, Inc. (NYSE:RJF)

by · The Markets Daily

MGO One Seven LLC grew its stake in Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,225 shares of the financial services provider’s stock after purchasing an additional 1,057 shares during the period. MGO One Seven LLC’s holdings in Raymond James Financial were worth $2,532,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Raymond James Financial in the 1st quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Raymond James Financial during the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC lifted its stake in shares of Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new stake in shares of Raymond James Financial during the 1st quarter worth approximately $33,000. Finally, TCTC Holdings LLC lifted its stake in shares of Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 121 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider directly owned 74,586 shares in the company, valued at $10,935,053.46. The trade was a 8.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Raymond James Financial Trading Down 1.4%

Shares of NYSE:RJF opened at $167.17 on Friday. Raymond James Financial, Inc. has a 12-month low of $104.24 and a 12-month high of $174.32. The business’s fifty day simple moving average is $154.04 and its 200-day simple moving average is $150.42. The company has a market capitalization of $33.73 billion, a PE ratio of 16.39, a P/E/G ratio of 1.39 and a beta of 1.02. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32.

Raymond James Financial (NYSE:RJF – Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.50%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the business posted $2.39 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.50 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

Analysts Set New Price Targets

RJF has been the subject of a number of research analyst reports. Bank of America lowered Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. Morgan Stanley raised their price target on Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. The Goldman Sachs Group decreased their price target on Raymond James Financial from $198.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. JMP Securities lifted their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a research report on Monday, July 14th. Finally, Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Thursday, April 24th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $163.80.

Get Our Latest Report on RJF

Raymond James Financial Company Profile

(Free Report)

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.

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