Daiichi Life Insurance Co. Ltd. acquired 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 (SEC). The firm acquired 8,412 shares of the financial services provider's stock, valued at approximately $1,279,000.
A number of other hedge funds have also made changes to their positions in RJF. Reflection Asset Management acquired a new stake in Raymond James Financial in the fourth quarter worth approximately $28,000. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial during the 4th quarter valued at $35,000. DV Equities LLC acquired a new position in shares of Raymond James Financial during the 4th quarter valued at $40,000. Steigerwald Gordon & Koch Inc. increased its position in shares of 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 period. Finally, Clearstead Trust LLC bought a new stake in shares of Raymond James Financial in the 2nd quarter worth $40,000. Institutional investors and hedge funds own 83.83% of the company's stock.
Insider Activity
In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider directly 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. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is currently owned by insiders.
Raymond James Financial Stock Performance
Shares of NYSE RJF opened at $176.66 on Tuesday. The stock's fifty day simple moving average is $168.69 and its 200 day simple moving average is $157.83. The stock has a market capitalization of $33.98 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.07 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73.
Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the business posted $2.18 earnings per share. Raymond James Financial's revenue was up 15.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
RJF has been the subject of several research reports. UBS Group set a $184.00 target price on Raymond James Financial and gave the company a "neutral" rating in a research note on Monday, July 27th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Monday, August 17th. JPMorgan Chase & Co. upped their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. Citigroup restated a "market outperform" rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Raymond James Financial currently has a consensus rating of "Hold" and a consensus target price of $181.00.
Check Out Our Latest Stock Analysis on RJF
Raymond James Financial Profile
(
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.
See Also
Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF - Free Report).
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