Raymond James (NYSE:RJF) Position Increased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its position in shares of Raymond James (NYSE:RJF) by 7.1% in the 1st quarter, Holdings Channel reports. The fund owned 16,185 shares of the financial services provider’s stock after buying an additional 1,067 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Raymond James were worth $2,078,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. AGF Management Ltd. grew its position in shares of Raymond James by 5.9% during the fourth quarter. AGF Management Ltd. now owns 2,147,825 shares of the financial services provider’s stock worth $239,482,000 after acquiring an additional 120,427 shares during the last quarter. Norges Bank bought a new position in shares of Raymond James during the fourth quarter worth about $238,830,000. Dimensional Fund Advisors LP grew its position in shares of Raymond James by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock worth $204,335,000 after acquiring an additional 263,687 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Raymond James by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,082,745 shares of the financial services provider’s stock worth $120,726,000 after acquiring an additional 88,700 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Raymond James by 5.0% during the first quarter. Sei Investments Co. now owns 849,914 shares of the financial services provider’s stock worth $109,146,000 after acquiring an additional 40,288 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of NYSE RJF opened at $112.22 on Thursday. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $23.26 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.70 and a beta of 1.02. The firm has a 50-day moving average of $119.84 and a two-hundred day moving average of $119.90.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company posted $2.03 earnings per share. Raymond James’s revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, July 1st. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RJF. Jefferies Financial Group upped their price target on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Citigroup upped their price objective on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Finally, Bank of America reduced their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $129.89.

About Raymond James

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.