Wealthfront Advisers LLC Buys 7,164 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Wealthfront Advisers LLC increased its stake in Raymond James Financial by 40.8%, buying 7,164 shares to own 24,725 shares valued at about $3.97 million.
• Raymond James beat quarterly EPS estimates ($2.83 vs. $2.76) with revenue up 13.4% year-over-year to $3.86B (slightly below estimates), pays a quarterly dividend of $0.54 (annualized $2.16, yield ~1.4%), and trades at a market cap of roughly $30.8B with an average analyst target of $173.25.

Wealthfront Advisers LLC grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 40.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,725 shares of the financial services provider's stock after purchasing an additional 7,164 shares during the period. Wealthfront Advisers LLC's holdings in Raymond James Financial were worth $3,971,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of RJF. Salomon & Ludwin LLC bought a new stake in Raymond James Financial during the third quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the fourth quarter worth about $32,000. Quent Capital LLC bought a new stake in Raymond James Financial during the third quarter worth about $33,000. Anfield Capital Management LLC bought a new stake in Raymond James Financial during the third quarter worth about $33,000. Finally, Harbor Investment Advisory LLC boosted its stake in Raymond James Financial by 452.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock worth $34,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

RJF opened at $156.33 on Friday. The firm has a market cap of $30.81 billion, a P/E ratio of 14.78, a PEG ratio of 1.21 and a beta of 0.99. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a 50 day simple moving average of $149.65 and a two-hundred day simple moving average of $158.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.76 by $0.07. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 18.01%. The company's revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 earnings per share. Equities analysts forecast that Raymond James Financial, Inc. will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Wednesday, April 1st. Raymond James Financial's dividend payout ratio is presently 20.42%.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the completion of the transaction, the insider directly owned 53,586 shares in the company, valued at $7,627,431.24. This represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RJF has been the topic of several research reports. UBS Group reissued a "neutral" rating and set a $166.00 price objective (up from $158.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. TD Cowen reissued a "hold" rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Barclays reissued an "overweight" rating and set a $182.00 price objective (up from $174.00) on shares of Raymond James Financial in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. Finally, Jefferies Financial Group reduced their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $173.25.

Raymond James Financial Profile

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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