Principal Financial Group Inc. decreased its stake in Raymond James Financial, Inc. (NYSE:RJF – Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 548,144 shares of the financial services provider’s stock after selling 24,655 shares during the quarter. Principal Financial Group Inc. owned approximately 0.28% of Raymond James Financial worth $79,366,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in RJF. Great Valley Advisor Group Inc. lifted its position in shares of Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after buying an additional 61 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in Raymond James Financial by 2.5% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,782 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 68 shares during the period. Bridgewater Advisors Inc. raised its stake in Raymond James Financial by 1.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock worth $892,000 after acquiring an additional 68 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Raymond James Financial by 4.3% during the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.
Raymond James Financial Trading Down 0.4%
Raymond James Financial stock opened at $169.56 on Friday. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $177.66. The firm’s 50 day moving average price is $155.28 and its 200-day moving average price is $156.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The stock has a market cap of $33.04 billion, a P/E ratio of 16.03, a PEG ratio of 1.09 and a beta of 0.93.
Raymond James Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 9th. UBS Group restated a “neutral” rating and set a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. Morgan Stanley upped their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. BMO Capital Markets increased their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Finally, Barclays raised their price target on Raymond James Financial from $182.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $176.64.
View Our Latest Stock Report on Raymond James Financial
Raymond James Financial Company Profile
Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.
The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.
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