Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 430,240 shares of the financial services provider’s stock, valued at approximately $65,409,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.22% of Raymond James Financial at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Reflection Asset Management bought a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $28,000. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial in the 4th quarter worth approximately $35,000. DV Equities LLC bought a new position in Raymond James Financial in the 4th quarter worth approximately $40,000. Salomon & Ludwin LLC lifted its holdings in Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after buying an additional 65 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its holdings in Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after buying an additional 228 shares in the last quarter. 83.83% of the stock is owned by institutional investors.
Insider Transactions at Raymond James Financial
In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the 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 transaction, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s 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 transaction, the insider owned 45,114 shares in the company, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.58% of the company’s stock.
Raymond James Financial Price Performance
Raymond James Financial (NYSE:RJF – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the business posted $2.18 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.
Analysts Set New Price Targets
RJF has been the subject of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday. JPMorgan Chase & Co. raised their price target on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Morgan Stanley lifted their price objective on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Citizens Jmp lifted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets reissued a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $181.00.
Read 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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