UniSuper Management Pty Ltd Purchases 8,115 Shares of Raymond James (NYSE:RJF)

UniSuper Management Pty Ltd raised its position in shares of Raymond James (NYSE:RJF) by 401.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,135 shares of the financial services provider’s stock after buying an additional 8,115 shares during the period. UniSuper Management Pty Ltd’s holdings in Raymond James were worth $1,302,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Drive Wealth Management LLC increased its stake in shares of Raymond James by 3.4% during the first quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock valued at $329,000 after buying an additional 85 shares during the period. Steph & Co. raised its holdings in Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 91 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the period. Federated Hermes Inc. boosted its stake in shares of Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 96 shares in the last quarter. Finally, Oarsman Capital Inc. increased its position in shares of Raymond James by 0.9% during the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after buying an additional 99 shares during the period. Institutional investors own 83.83% of the company’s stock.

Insider Activity

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

Raymond James Stock Up 1.7 %

NYSE:RJF traded up $1.82 on Tuesday, reaching $111.80. 2,351,924 shares of the stock traded hands, compared to its average volume of 1,106,144. 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 $23.17 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.68 and a beta of 1.02. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19. The company’s fifty day simple moving average is $120.15 and its 200 day simple moving average is $119.96.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.03 EPS. Equities analysts predict that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Analyst Ratings Changes

RJF has been the subject of several research analyst reports. Morgan Stanley raised their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. TD Cowen upped their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. UBS Group lowered their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, Bank of America lowered their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research 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’s stock. According to MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target 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.