Stoneridge Investment Partners LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 4,600 shares of the financial services provider’s stock, valued at approximately $810,000.
Several other large investors also recently modified their holdings of the stock. First Trust Advisors LP increased its holdings in shares of Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after buying an additional 474,477 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Raymond James Financial by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after acquiring an additional 21,856 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Raymond James Financial by 9.9% in the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after acquiring an additional 220,227 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Raymond James Financial by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after acquiring an additional 41,413 shares during the last quarter. Finally, Invesco Ltd. grew its position in Raymond James Financial by 12.2% during the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after acquiring an additional 254,773 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.
Raymond James Financial Stock Performance
Shares of Raymond James Financial stock opened at $180.85 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The firm has a market cap of $34.79 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.11 and a beta of 0.92. The firm has a 50 day simple moving average of $165.70 and a 200 day simple moving average of $157.52. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $182.73.
Analyst Ratings Changes
RJF has been the subject of several research analyst reports. UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. TD Cowen decreased their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Argus raised their target price on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Citizens Jmp lifted their price target on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $181.00.
Read Our Latest Research Report on RJF
Insider Activity
In related news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was 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 $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.58% of the stock is owned by company insiders.
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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