Wealthfront Advisers LLC Takes Position in Raymond James Financial, Inc. $RJF

Wealthfront Advisers LLC acquired a new position in Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,439 shares of the financial services provider’s stock, valued at approximately $3,867,000.

Several other large investors have also bought and sold shares of the stock. Kingsview Wealth Management LLC grew its holdings in Raymond James Financial by 586.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after acquiring an additional 17,407 shares during the period. Algebris UK Ltd. bought a new stake in shares of Raymond James Financial during the 4th quarter valued at about $10,179,000. Fisher Asset Management LLC grew its stake in Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after purchasing an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after purchasing an additional 7,202 shares in the last quarter. Finally, Swedbank AB lifted its stake in Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares during the period. 83.83% of the stock is owned by institutional investors.

Insider Transactions at Raymond James Financial

In other news, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction on 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 sale, the insider owned 45,114 shares in the company, valued at $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. 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 Performance

Shares of RJF opened at $172.21 on Friday. The firm has a market capitalization of $33.13 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.09 and a beta of 0.92. 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 50 day moving average price of $167.82 and a two-hundred day moving average price of $157.70.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping 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 business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 EPS. Equities analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday. TD Cowen cut their target price on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Finally, Morgan Stanley boosted their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Raymond James Financial presently has an average rating of “Hold” and an average price target of $181.00.

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.