Wealthfront Advisers LLC Has $3.03 Million Stake in Raymond James Financial, Inc. $RJF

Wealthfront Advisers LLC increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 40.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,561 shares of the financial services provider’s stock after purchasing an additional 5,021 shares during the quarter. Wealthfront Advisers LLC’s holdings in Raymond James Financial were worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 314 shares in the last quarter. Woodline Partners LP increased its position in shares of Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 4,592 shares during the period. Blair William & Co. IL acquired a new position in Raymond James Financial in the second quarter valued at about $272,000. CWM LLC lifted its position in Raymond James Financial by 1.6% during the second quarter. CWM LLC now owns 28,043 shares of the financial services provider’s stock worth $4,301,000 after purchasing an additional 447 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Raymond James Financial by 3.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 107,634 shares of the financial services provider’s stock worth $16,645,000 after buying an additional 3,842 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $158.42 on Friday. The company’s 50 day moving average price is $166.12 and its two-hundred day moving average price is $164.91. The firm has a market capitalization of $31.22 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.17 and a beta of 1.00. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. 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) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the prior year, the company earned $2.93 EPS. Raymond James Financial’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Raymond James Financial’s payout ratio is 21.14%.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $163.15, for a total value of $21,321,584.05. Following the completion of the transaction, the insider owned 260,546 shares of the company’s stock, valued at $42,508,079.90. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RJF shares. Morgan Stanley restated a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Thursday, January 22nd. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. BMO Capital Markets raised their target price on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Finally, TD Cowen reissued a “hold” rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and a consensus price target of $182.17.

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.