Golden State Wealth Management LLC Purchases 123 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Golden State Wealth Management LLC lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 164.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 198 shares of the financial services provider’s stock after acquiring an additional 123 shares during the quarter. Golden State Wealth Management LLC’s holdings in Raymond James Financial were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. FMR LLC grew its stake in shares of Raymond James Financial by 2.2% during the fourth quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after purchasing an additional 137,277 shares during the period. Geode Capital Management LLC grew its stake in shares of Raymond James Financial by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after purchasing an additional 40,576 shares during the period. Earnest Partners LLC grew its stake in shares of Raymond James Financial by 1.0% during the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock worth $393,554,000 after purchasing an additional 24,195 shares during the period. Invesco Ltd. grew its stake in shares of Raymond James Financial by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock worth $378,276,000 after purchasing an additional 192,904 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Raymond James Financial by 18.4% during the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock worth $327,314,000 after purchasing an additional 327,739 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RJF has been the subject of a number of analyst reports. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research note on Thursday, April 24th. JMP Securities reaffirmed a “market outperform” rating and set a $175.00 price objective on shares of Raymond James Financial in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price objective 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. JPMorgan Chase & Co. decreased their target price on Raymond James Financial from $149.00 to $143.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, Bank of America cut Raymond James Financial from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and an average target price of $153.82.

Insider Transactions at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider directly owned 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider owned 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Raymond James Financial Stock Up 1.1%

NYSE:RJF opened at $159.88 on Friday. Raymond James Financial, Inc. has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The stock has a market cap of $32.26 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.90 and a beta of 1.02. The stock has a 50-day moving average price of $147.63 and a two-hundred day moving average price of $149.68.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James Financial had a net margin of 13.99% and a return on equity of 19.31%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 earnings per share. As a group, equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. Raymond James Financial’s dividend payout ratio (DPR) is 19.25%.

About Raymond James Financial

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.