Raymond James Financial, Inc. $RJF Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,860 shares of the financial services provider’s stock after purchasing an additional 4,259 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Raymond James Financial were worth $9,442,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. boosted its position in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after buying an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC increased its stake in shares of Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after acquiring an additional 62 shares during the period. Wedmont Private Capital raised its holdings in shares of Raymond James Financial by 0.6% during the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock worth $1,727,000 after purchasing an additional 64 shares during the last quarter. Tectonic Advisors LLC lifted its position in Raymond James Financial by 2.0% during the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 65 shares during the period. Finally, Level Four Advisory Services LLC lifted its position in Raymond James Financial by 2.4% during the second quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 67 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 29,551 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the sale, the insider owned 53,586 shares of the company’s stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

RJF has been the topic of several analyst reports. Barclays began coverage on Raymond James Financial in a research report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price target on the stock. Bank of America upped their target price on Raymond James Financial from $194.00 to $196.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 10th. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Finally, UBS Group set a $176.00 price target on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Trading Down 2.0%

RJF stock opened at $141.33 on Friday. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The firm has a market cap of $27.85 billion, a P/E ratio of 13.83, a PEG ratio of 1.07 and a beta of 1.00. The company’s 50-day simple moving average is $157.33 and its 200-day simple moving average is $161.70.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the firm posted $2.93 EPS. Raymond James Financial’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. Raymond James Financial’s dividend payout ratio (DPR) is currently 21.14%.

Raymond James Financial 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.