Sei Investments Co. Has $8.98 Million Stake in Raymond James Financial, Inc. (RJF)

Sei Investments Co. increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,888 shares of the financial services provider’s stock after buying an additional 14,632 shares during the period. Sei Investments Co.’s holdings in Raymond James Financial were worth $8,975,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Raymond James Financial by 24.4% in the first quarter. Vanguard Group Inc. now owns 12,571,840 shares of the financial services provider’s stock valued at $958,728,000 after buying an additional 2,462,838 shares during the period. BlackRock Inc. raised its stake in Raymond James Financial by 3,818.6% in the first quarter. BlackRock Inc. now owns 8,358,285 shares of the financial services provider’s stock valued at $637,402,000 after buying an additional 8,144,989 shares during the period. State Street Corp raised its stake in Raymond James Financial by 44.2% in the first quarter. State Street Corp now owns 5,930,879 shares of the financial services provider’s stock valued at $452,297,000 after buying an additional 1,819,172 shares during the period. Boston Partners raised its stake in Raymond James Financial by 9.9% in the first quarter. Boston Partners now owns 5,437,723 shares of the financial services provider’s stock valued at $414,680,000 after buying an additional 489,610 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Raymond James Financial by 7.4% in the first quarter. Wells Fargo & Company MN now owns 2,556,283 shares of the financial services provider’s stock valued at $194,943,000 after buying an additional 175,601 shares during the period. Hedge funds and other institutional investors own 70.87% of the company’s stock.

Raymond James Financial, Inc. (RJF) opened at 79.35 on Friday. The company has a market cap of $11.40 billion, a P/E ratio of 18.88 and a beta of 1.65. Raymond James Financial, Inc. has a 12-month low of $55.79 and a 12-month high of $85.97. The firm’s 50 day moving average is $81.89 and its 200 day moving average is $77.55.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. Equities research analysts anticipate that Raymond James Financial, Inc. will post $5.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.11%. Raymond James Financial’s dividend payout ratio is currently 20.90%.

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RJF has been the subject of several analyst reports. Buckingham Research restated a “buy” rating and issued a $94.00 price objective (up from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Nomura increased their price target on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Wells Fargo & Company reiterated a “market perform” rating and issued a $85.00 price target (up previously from $82.50) on shares of Raymond James Financial in a research note on Monday, June 12th. Instinet reiterated a “buy” rating and issued a $90.00 price target (up previously from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a research note on Wednesday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $87.50.

In other news, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the sale, the insider now owns 37,513 shares of the company’s stock, valued at $3,107,201.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 33,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the sale, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. Insiders have sold 38,880 shares of company stock valued at $3,213,734 in the last three months. Corporate insiders own 11.18% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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Institutional Ownership by Quarter for Raymond James Financial (NYSE:RJF)

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