Klingman & Associates LLC Purchases 1,713 Shares of Raymond James Financial, Inc. (NYSE:RJF)

Key Points

• Klingman & Associates LLC increased its stake in Raymond James Financial by 16.3%, acquiring an additional 1,713 shares, bringing their total holdings to 12,203 shares valued at approximately $1.7 million.
• Several analysts have raised their price targets for Raymond James Financial, with Morgan Stanley increasing its target from $136 to $180, and JPMorgan from $151 to $172, while the stock maintains an average price target of $163.80.
• Raymond James Financial recently reported quarterly earnings of $2.18 per share, missing estimates, but saw a 5.3% year-over-year revenue increase to $3.40 billion.

Klingman & Associates LLC grew its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,203 shares of the financial services provider's stock after purchasing an additional 1,713 shares during the quarter. Klingman & Associates LLC's holdings in Raymond James Financial were worth $1,695,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RJF. Formidable Asset Management LLC grew its stake in shares of Raymond James Financial by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider's stock worth $1,227,000 after acquiring an additional 67 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Raymond James Financial by 2.2% during the 1st quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock worth $461,000 after acquiring an additional 73 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Raymond James Financial by 9.0% during the 1st quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider's stock worth $137,000 after acquiring an additional 82 shares in the last quarter. Dynasty Wealth Management LLC grew its stake in shares of Raymond James Financial by 4.9% during the 1st quarter. Dynasty Wealth Management LLC now owns 2,017 shares of the financial services provider's stock worth $280,000 after acquiring an additional 94 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Raymond James Financial by 3.6% during the 1st quarter. Brighton Jones LLC now owns 2,862 shares of the financial services provider's stock worth $398,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RJF shares. Morgan Stanley raised their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Cowen reissued a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Finally, JMP Securities boosted their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Raymond James Financial currently has an average rating of "Hold" and an average target price of $163.80.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the completion of the sale, the insider owned 74,586 shares of the company's stock, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company's stock.

Raymond James Financial Price Performance

NYSE:RJF opened at $168.45 on Wednesday. Raymond James Financial, Inc. has a one year low of $110.06 and a one year high of $174.32. The company has a market cap of $33.58 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.35 and a beta of 1.05. The firm's fifty day moving average price is $157.10 and its two-hundred day moving average price is $150.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. Raymond James Financial's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Equities analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, July 1st. Raymond James Financial's payout ratio is presently 19.61%.

Raymond James Financial Profile

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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