Western Wealth Management LLC Takes Position in Raymond James Financial, Inc. $RJF

Western Wealth Management LLC bought a new position in Raymond James Financial, Inc. (NYSE:RJFFree Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 9,634 shares of the financial services provider’s stock, valued at approximately $1,395,000.

Several other large investors have also recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in Raymond James Financial by 9.9% during the first quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after buying an additional 220,227 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Raymond James Financial in the first quarter valued at $246,000. South Dakota Investment Council raised its stake in shares of Raymond James Financial by 150.0% in the first quarter. South Dakota Investment Council now owns 1,250 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 750 shares during the period. Amundi lifted its holdings in shares of Raymond James Financial by 14.3% in the 1st quarter. Amundi now owns 401,301 shares of the financial services provider’s stock worth $58,104,000 after acquiring an additional 50,092 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Raymond James Financial by 8.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 113 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Trading Up 0.6%

Shares of RJF opened at $181.09 on Thursday. The firm has a market capitalization of $34.83 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.10 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73. The company has a 50-day moving average of $164.50 and a 200 day moving average of $157.27.

Raymond James Financial (NYSE:RJFGet Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, research analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen reduced their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Argus increased their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Barclays raised their price target on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average target price of $181.00.

View Our Latest Report on Raymond James Financial

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider directly owned 45,114 shares in the company, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is owned by corporate insiders.

About Raymond James Financial

(Free Report)

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

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