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

Western Wealth Management LLC purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,634 shares of the financial services provider’s stock, valued at approximately $1,395,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Great Valley Advisor Group Inc. lifted its position in Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the period. Bridgewater Advisors Inc. boosted its stake in Raymond James Financial by 1.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock valued at $892,000 after purchasing an additional 68 shares during the period. Parallel Advisors LLC grew its holdings in Raymond James Financial by 4.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after buying an additional 71 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Raymond James Financial by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock worth $358,000 after buying an additional 72 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RJF has been the topic of several research analyst reports. Barclays raised their price objective on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Argus boosted their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday. Citizens Jmp increased their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday, July 23rd. TD Cowen lowered their price target on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $181.00.

Insider Transactions at Raymond James Financial

In other news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction 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 completion of the sale, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the sale, the insider directly owned 43,046 shares of the company’s stock, valued at $7,445,666.62. The trade was a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Performance

NYSE:RJF opened at $176.12 on Friday. The firm has a market capitalization of $34.32 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $178.28. The firm has a 50-day moving average price of $159.33 and a 200 day moving average price of $156.89.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.Raymond James Financial’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $2.18 EPS. Research analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.54 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is 18.83%.

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.