Western Wealth Management LLC Buys Shares of 9,634 Raymond James Financial, Inc. $RJF

Western Wealth Management LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the first quarter, HoldingsChannel reports. The fund purchased 9,634 shares of the financial services provider’s stock, valued at approximately $1,395,000.

Several other hedge funds also recently made changes to their positions in the business. Reflection Asset Management bought a new stake in shares of Raymond James Financial in the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial in the fourth quarter valued at $32,000. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial in the fourth quarter valued at $35,000. Steigerwald Gordon & Koch Inc. increased its stake in Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after buying an additional 228 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in Raymond James Financial in the 4th quarter valued at $40,000. 83.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction 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 completion of the sale, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent research reports. Argus increased their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group lowered their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. TD Cowen dropped 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. Citizens Jmp increased their price target on 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.00.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $176.12 on Friday. The stock has a market cap of $34.32 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The company has a fifty day moving average price of $159.33 and a two-hundred day moving average price of $156.89. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $178.28.

Raymond James Financial (NYSE:RJF) last announced 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 company had revenue of $3.93 billion during 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 19.17%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 EPS. As a group, equities analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is presently 18.83%.

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.