B. Metzler seel. Sohn & Co. AG bought a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,412 shares of the financial services provider's stock, valued at approximately $2,951,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of RJF. Reflection Asset Management acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at approximately $28,000. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial in the 4th quarter valued at $35,000. Steigerwald Gordon & Koch Inc. lifted its holdings in 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 valued at $37,000 after purchasing an additional 228 shares during the last quarter. Clearstead Trust LLC bought a new position in Raymond James Financial during the second quarter worth $40,000. Finally, DV Equities LLC bought a new position in Raymond James Financial during the fourth quarter worth $40,000. Institutional investors own 83.83% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on RJF shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a report on Monday, August 17th. BMO Capital Markets reaffirmed a "market perform" rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. TD Cowen decreased their price target 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. Citizens Jmp increased their price target on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a "market outperform" rating in a report on Thursday, July 23rd. Finally, Barclays raised their price objective on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Five equities 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 company has a consensus rating of "Hold" and an average price target of $181.00.
Check Out Our Latest Research Report on RJF
Raymond James Financial Price Performance
Shares of NYSE:RJF opened at $175.37 on Friday. The firm has a 50 day moving average of $168.25 and a 200-day moving average of $157.82. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $182.73. 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 stock has a market capitalization of $33.73 billion, a PE ratio of 15.29, a PEG ratio of 1.07 and a beta of 0.92.
Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business posted $2.18 EPS. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.
Insiders Place Their Bets
In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the firm's 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 of the company's stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of Raymond James Financial 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 transaction, the insider owned 43,046 shares in the company, valued at approximately $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. Company insiders own 0.58% of the company's stock.
Raymond James Financial Company Profile
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Free Report)
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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