Edgestream Partners L.P. Invests $2.28 Million in Raymond James Financial, Inc. (NYSE:RJF)

Edgestream Partners L.P. acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,404 shares of the financial services provider's stock, valued at approximately $2,279,000.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC raised its holdings in Raymond James Financial by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 17,843 shares of the financial services provider's stock valued at $2,771,000 after acquiring an additional 546 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Raymond James Financial by 2.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 53,853 shares of the financial services provider's stock valued at $8,365,000 after buying an additional 1,237 shares during the period. Corient Private Wealth LLC boosted its position in Raymond James Financial by 3.2% in the 4th quarter. Corient Private Wealth LLC now owns 21,282 shares of the financial services provider's stock valued at $3,305,000 after buying an additional 658 shares during the period. Parallel Advisors LLC raised its holdings in shares of Raymond James Financial by 14.5% in the 4th quarter. Parallel Advisors LLC now owns 2,252 shares of the financial services provider's stock valued at $350,000 after purchasing an additional 286 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Raymond James Financial by 20.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 41,396 shares of the financial services provider's stock valued at $6,430,000 after purchasing an additional 6,985 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company upped their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. JMP Securities upped their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Morgan Stanley raised their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research report on Tuesday. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $162.40.

Raymond James Financial Trading Up 2.2%

Shares of Raymond James Financial stock opened at $159.52 on Friday. The company has a market capitalization of $32.19 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $151.27 and a 200 day simple moving average of $149.86. Raymond James Financial, Inc. has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.46 billion. Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the company posted $2.31 EPS. On average, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Tuesday, July 1st. Raymond James Financial's payout ratio is 19.25%.

Insider Buying and Selling at Raymond James Financial

In other news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider owned 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider directly owned 74,586 shares in the company, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.

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