Stuart Investment Advisors Inc. Invests $2.91 Million in Raymond James Financial, Inc. $RJF

Key Points

• Stuart Investment Advisors purchased 19,115 Raymond James Financial shares worth approximately $2.91 million, making RJF about 1.2% of its portfolio and its fifth-largest holding. Institutional investors collectively own 83.83% of the company.
• Raymond James reported quarterly earnings of $3.14 per share, beating estimates of $2.91, while revenue rose 15.6% year over year to $3.93 billion. Analysts maintain a “Hold” consensus with an average price target of $181.
• RJF shares opened at $180.85, near their 52-week high of $182.73. Two company insiders recently sold shares, while insider ownership stands at just 0.58%.

Stuart Investment Advisors Inc. acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,115 shares of the financial services provider's stock, valued at approximately $2,906,000. Raymond James Financial makes up about 1.2% of Stuart Investment Advisors Inc.'s investment portfolio, making the stock its 5th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RJF. Reflection Asset Management purchased a new stake in Raymond James Financial in the fourth quarter valued at about $28,000. Hilton Head Capital Partners LLC acquired a new stake in Raymond James Financial in the fourth quarter worth about $35,000. Steigerwald Gordon & Koch Inc. grew its stake in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider's stock worth $37,000 after acquiring an additional 228 shares during the last quarter. Clearstead Trust LLC purchased a new stake in shares of Raymond James Financial during the second quarter worth about $40,000. Finally, DV Equities LLC acquired a new position in shares of Raymond James Financial during the fourth quarter valued at about $40,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Raymond James Financial 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 represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 43,046 shares in the company, 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 owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Argus increased their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the stock a "neutral" rating in a research report on Monday, July 27th. Citizens Jmp upped 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 research note on Thursday, July 23rd. Morgan Stanley raised their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an "equal weight" rating in a report on Friday, July 10th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial has an average rating of "Hold" and an average price target of $181.00.

Raymond James Financial Stock Down 0.1%

RJF stock opened at $180.85 on Friday. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The firm's fifty day moving average is $165.70 and its 200 day moving average is $157.52. The firm has a market cap of $34.79 billion, a PE ratio of 15.77, a P/E/G ratio of 1.11 and a beta of 0.92.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company's revenue was up 15.6% compared to the same quarter last year. On average, research analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

About Raymond James Financial

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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