UBS Asset Management Americas Inc. Buys 80,349 Shares of Raymond James (NYSE:RJF)
UBS Asset Management Americas Inc. lifted its stake in shares of Raymond James (NYSE:RJF) by 19.0% during the 4th quarter, HoldingsChannel reports. The firm owned 502,484 shares of the financial services provider’s stock after acquiring an additional 80,349 shares during the period. UBS Asset Management Americas Inc.’s holdings in Raymond James were worth $44,952,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in RJF. Jacobs Levy Equity Management Inc. grew its stake in shares of Raymond James by 49.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 311,081 shares of the financial services provider’s stock valued at $27,829,000 after purchasing an additional 103,292 shares during the period. Covenant Partners LLC purchased a new position in Raymond James in the 4th quarter worth about $490,000. Visionary Wealth Advisors purchased a new position in Raymond James in the 4th quarter worth about $301,000. Goldman Sachs Group Inc. raised its position in Raymond James by 16.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 951,436 shares of the financial services provider’s stock worth $85,115,000 after buying an additional 137,436 shares during the last quarter. Finally, UBS Group AG raised its position in Raymond James by 111.4% in the 4th quarter. UBS Group AG now owns 237,743 shares of the financial services provider’s stock worth $21,268,000 after buying an additional 125,291 shares during the last quarter. 72.31% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on RJF. ValuEngine upgraded Raymond James from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Goldman Sachs Group lowered shares of Raymond James from a “neutral” rating to a “sell” rating in a research report on Tuesday. Credit Suisse Group increased their target price on shares of Raymond James from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Co lowered shares of Raymond James from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $102.00 to $81.00 in a research report on Friday, March 6th. Finally, Argus reiterated a “focus list” rating on shares of Raymond James in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $88.00.
Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). Raymond James had a return on equity of 16.15% and a net margin of 13.03%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the company posted $1.79 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Raymond James will post 7.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Tuesday, March 31st. Raymond James’s payout ratio is 20.00%.
In related news, EVP Bella Loykhter Allaire sold 10,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $101.26, for a total value of $1,093,608.00. Following the sale, the executive vice president now directly owns 58,035 shares of the company’s stock, valued at $5,876,624.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Bunn sold 5,120 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $91.05, for a total transaction of $466,176.00. Following the completion of the sale, the insider now directly owns 9,563 shares in the company, valued at $870,711.15. The disclosure for this sale can be found here. Corporate insiders own 10.82% of the company’s stock.
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.
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