Wealth Enhancement Advisory Services LLC Grows Stake in Raymond James Financial, Inc. $RJF

Wealth Enhancement Advisory Services LLC grew its position in Raymond James Financial, Inc. (NYSE:RJF) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,860 shares of the financial services provider’s stock after buying an additional 4,259 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Raymond James Financial were worth $9,442,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its holdings in shares of Raymond James Financial by 30.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 60,372 shares of the financial services provider’s stock valued at $10,390,000 after purchasing an additional 14,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Raymond James Financial by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,295 shares of the financial services provider’s stock valued at $5,402,000 after buying an additional 6,953 shares during the period. Plato Investment Management Ltd increased its holdings in Raymond James Financial by 2,000.9% during the third quarter. Plato Investment Management Ltd now owns 4,559 shares of the financial services provider’s stock valued at $781,000 after buying an additional 4,342 shares during the period. Allianz Asset Management GmbH raised its stake in Raymond James Financial by 24.6% in the third quarter. Allianz Asset Management GmbH now owns 59,067 shares of the financial services provider’s stock worth $10,195,000 after buying an additional 11,680 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Raymond James Financial in the third quarter worth approximately $1,487,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on RJF shares. TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. UBS Group set a $176.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley reaffirmed a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Weiss Ratings upgraded Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Barclays assumed coverage on shares of Raymond James Financial in a report on Wednesday, January 28th. They issued an “overweight” rating and a $191.00 target price for the company. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $182.17.

Raymond James Financial Trading Down 2.0%

Raymond James Financial stock opened at $141.33 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.04 and a current ratio of 1.06. The stock has a market cap of $27.85 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00. The stock has a 50-day moving average of $157.33 and a two-hundred day moving average of $161.70. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping 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 business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, April 1st. Raymond James Financial’s payout ratio is currently 21.14%.

Insiders Place Their Bets

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 transaction of $4,206,289.34. Following the transaction, the insider owned 53,586 shares in the company, valued at approximately $7,627,431.24. This represents a 35.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

About Raymond James Financial

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.