9,634 Shares in Raymond James Financial, Inc. $RJF Acquired by Western Wealth Management LLC

Western Wealth Management LLC bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the first quarter, HoldingsChannel.com reports. The firm bought 9,634 shares of the financial services provider’s stock, valued at approximately $1,395,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after buying an additional 474,477 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Raymond James Financial by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after purchasing an additional 21,856 shares during the last quarter. Bank of America Corp DE raised its position in shares of Raymond James Financial by 9.9% in the 1st quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock valued at $354,701,000 after purchasing an additional 220,227 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Raymond James Financial by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after purchasing an additional 41,413 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after purchasing an additional 254,773 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the stock in a transaction dated 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 owned 43,046 shares in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the transaction, the insider owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Barclays boosted their price objective on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Argus raised their target price on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $181.00.

Raymond James Financial Price Performance

NYSE:RJF opened at $181.09 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The firm has a market cap of $34.83 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92. The company has a 50 day moving average price of $164.50 and a 200-day moving average price of $157.27. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted $2.18 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Raymond James Financial Company 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.