Virtus Investment Advisers LLC Grows Position in Raymond James Financial, Inc. $RJF

Virtus Investment Advisers LLC grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 21.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,088 shares of the financial services provider’s stock after purchasing an additional 1,803 shares during the period. Virtus Investment Advisers LLC’s holdings in Raymond James Financial were worth $1,547,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Princeton Global Asset Management LLC boosted its holdings in Raymond James Financial by 69.0% during the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after buying an additional 100 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Raymond James Financial by 47.2% during the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 108 shares in the last quarter. South Dakota Investment Council boosted its stake in shares of Raymond James Financial by 300.0% during the 2nd quarter. South Dakota Investment Council now owns 400 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 300 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Raymond James Financial in the 2nd quarter worth approximately $64,000. Finally, Zions Bancorporation National Association UT purchased a new position in Raymond James Financial in the 1st quarter valued at approximately $60,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Up 0.8%

Shares of NYSE RJF opened at $155.82 on Friday. The firm has a market cap of $31.07 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The firm’s 50 day moving average price is $162.94 and its 200 day moving average price is $160.07.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The company had revenue of $3.73 billion for 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 business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.95 EPS. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RJF. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. JMP Securities lifted their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and a consensus price target 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.