Plato Investment Management Ltd Makes New $689,000 Investment in Raymond James Financial, Inc. $RJF

Plato Investment Management Ltd purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,559 shares of the financial services provider’s stock, valued at approximately $689,000.

Several other large investors have also recently modified their holdings of RJF. Reflection Asset Management purchased a new stake in Raymond James Financial during the 4th quarter valued at about $28,000. Hilton Head Capital Partners LLC bought a new position in shares of Raymond James Financial in the fourth quarter worth approximately $35,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of 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 valued at $37,000 after buying an additional 228 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of Raymond James Financial during the second quarter valued at approximately $40,000. Finally, DV Equities LLC bought a new position in Raymond James Financial in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. 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. Barclays lifted 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. Argus boosted their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $181.00.

Raymond James Financial Trading Down 0.2%

Raymond James Financial stock opened at $179.19 on Wednesday. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73. The firm has a market capitalization of $34.47 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.11 and a beta of 0.92. The firm has a 50 day moving average of $166.85 and a 200 day moving average of $157.58. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share 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 company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the firm posted $2.18 EPS. Raymond James Financial’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, research analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Insider Activity

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

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.