Uniting Wealth Partners LLC Invests $724,000 in Raymond James Financial, Inc. $RJF

Uniting Wealth Partners LLC bought a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, HoldingsChannel reports. The fund bought 4,762 shares of the financial services provider’s stock, valued at approximately $724,000.

Several other hedge funds have also modified their holdings of RJF. Norges Bank acquired a new position in Raymond James Financial during the 4th quarter worth approximately $324,263,000. Bank of New York Mellon Corp acquired a new stake in Raymond James Financial in the second quarter valued at approximately $182,254,000. First Trust Advisors LP raised its stake 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 valued at $493,332,000 after purchasing an additional 474,477 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at approximately $64,640,000. Finally, AQR Capital Management LLC lifted its position in shares of Raymond James Financial by 40.0% during the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock worth $176,124,000 after purchasing an additional 313,587 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James Financial

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’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 completion of the sale, the insider directly owned 45,114 shares of the company’s stock, valued at $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $998,036.90. Following the sale, the insider owned 43,046 shares in the company, valued at $7,445,666.62. The trade was a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Up 0.0%

RJF stock opened at $180.85 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $165.70 and a 200-day simple moving average of $157.43. The company has a market capitalization of $34.79 billion, a P/E ratio of 15.77, a PEG ratio of 1.11 and a beta of 0.92. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 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 the consensus estimate of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. On average, equities research analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen decreased 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 note on Thursday, July 23rd. Argus boosted their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. BMO Capital Markets reissued a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $181.00.

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.