Deutsche Bank AG purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 577,026 shares of the financial services provider’s stock, valued at approximately $87,725,000.
Other institutional investors have also made changes to their positions in the company. Reflection Asset Management bought a new position in Raymond James Financial during the 4th quarter worth $28,000. Hilton Head Capital Partners LLC bought a new stake in shares of Raymond James Financial during the 4th quarter valued at $35,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of 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 purchasing an additional 228 shares in the last quarter. Clearstead Trust LLC acquired a new stake in shares of Raymond James Financial during the 2nd quarter worth $40,000. Finally, DV Equities LLC bought a new position in shares of Raymond James Financial in the fourth quarter worth $40,000. 83.83% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Morgan Stanley boosted their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Citizens Jmp boosted their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. TD Cowen dropped their target price on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and a consensus target price of $181.00.
Raymond James Financial Price Performance
Raymond James Financial stock opened at $172.21 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73. The stock has a market capitalization of $33.13 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The stock has a fifty day moving average of $167.82 and a 200-day moving average of $157.70.
Raymond James Financial (NYSE:RJF – Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.18 earnings per share. On average, sell-side analysts expect that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.58% of the company’s stock.
About Raymond James Financial
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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