Deutsche Bank AG acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 577,026 shares of the financial services provider's stock, valued at approximately $87,725,000. Deutsche Bank AG owned approximately 0.30% of Raymond James Financial as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in RJF. First Trust Advisors LP raised its position in Raymond James Financial by 18.3% during the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider's stock worth $493,332,000 after acquiring an additional 474,477 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Raymond James Financial by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider's stock worth $447,381,000 after purchasing an additional 21,856 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Raymond James Financial by 9.9% in the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider's stock valued at $354,701,000 after purchasing an additional 220,227 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Raymond James Financial by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider's stock valued at $347,390,000 after purchasing an additional 41,413 shares during the period. Finally, Invesco Ltd. lifted its stake in Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider's stock valued at $375,543,000 after purchasing an additional 254,773 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.
Wall Street Analyst Weigh In
RJF has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on Raymond James Financial from $162.00 to $161.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a "neutral" rating in a research report on Monday, July 27th. Citigroup reiterated a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a report on Monday. Finally, Morgan Stanley increased their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a research note on Friday, July 10th. Five investment 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.com, Raymond James Financial currently has an average rating of "Hold" and an average target price of $181.00.
Get Our Latest Report on Raymond James Financial
Insider Activity at Raymond James Financial
In other news, insider Tashtego S. Elwyn sold 10,000 shares of the 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 owned 45,114 shares in the company, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company's stock, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is currently owned by corporate insiders.
Raymond James Financial Stock Down 3.2%
Shares of RJF opened at $172.21 on Friday. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73. The firm has a market cap of $33.13 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The firm's 50-day simple moving average is $167.82 and its 200 day simple moving average is $157.70. 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 (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating 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 firm had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $3.87 billion. During the same period in the prior year, the firm earned $2.18 EPS. The business's revenue was up 15.6% on a year-over-year basis. On average, analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.
Raymond James Financial 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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