Raymond James Financial, Inc. $RJF Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 10.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,622 shares of the financial services provider’s stock after acquiring an additional 913 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Raymond James Financial were worth $1,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of Raymond James Financial by 13.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,431 shares of the financial services provider’s stock worth $680,000 after acquiring an additional 523 shares during the last quarter. Choreo LLC grew its holdings in shares of Raymond James Financial by 4.3% in the second quarter. Choreo LLC now owns 3,569 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 148 shares during the period. Inceptionr LLC grew its holdings in shares of Raymond James Financial by 324.7% in the second quarter. Inceptionr LLC now owns 15,050 shares of the financial services provider’s stock valued at $2,301,000 after purchasing an additional 11,506 shares during the period. J.W. Cole Advisors Inc. increased its position in Raymond James Financial by 58.4% during the second quarter. J.W. Cole Advisors Inc. now owns 5,264 shares of the financial services provider’s stock worth $807,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Laurel Wealth Advisors LLC raised its stake in Raymond James Financial by 15,233.5% during the second quarter. Laurel Wealth Advisors LLC now owns 55,814 shares of the financial services provider’s stock worth $8,560,000 after purchasing an additional 55,450 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Up 0.8%

Shares of NYSE RJF opened at $155.82 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $162.94 and its two-hundred day moving average is $160.07. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66. The firm has a market cap of $31.07 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.19 and a beta of 1.05.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.83 by $0.28. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $2.95 earnings per share. Research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JMP Securities increased their price target on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Finally, Cowen reiterated a “hold” rating on shares of Raymond James Financial in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial presently has a consensus rating of “Hold” and a consensus target price of $177.20.

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.