Uniting Wealth Partners LLC Makes New Investment in Raymond James Financial, Inc. $RJF

Uniting Wealth Partners LLC purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 4,762 shares of the financial services provider’s stock, valued at approximately $724,000.

Other large investors also recently made changes to their positions in the company. Reflection Asset Management purchased a new stake in shares of Raymond James Financial in the fourth quarter valued at $28,000. Hilton Head Capital Partners LLC purchased a new position in Raymond James Financial during the fourth quarter worth about $35,000. Steigerwald Gordon & Koch Inc. lifted its position in Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after buying an additional 228 shares during the period. Clearstead Trust LLC acquired a new stake in Raymond James Financial in the 2nd quarter worth about $40,000. Finally, DV Equities LLC acquired a new stake in Raymond James Financial in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $180.85 on Monday. The business has a 50-day moving average of $165.70 and a two-hundred day moving average of $157.43. The firm has a market capitalization of $34.79 billion, a PE ratio of 15.77, a P/E/G ratio of 1.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. Raymond James Financial, Inc. has a 12 month low of $138.82 and a 12 month high of $182.73.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.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 previous year, the company posted $2.18 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, research analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RJF. Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research note 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. BMO Capital Markets restated a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. TD Cowen dropped their price target on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Finally, Barclays increased their price target 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. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and a consensus target price of $181.00.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the business’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 in the company, valued at $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction 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 $7,942,770.84. The trade was a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.58% of the company’s stock.

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.