United Capital Financial Advisors LLC Takes Position in Raymond James Financial, Inc. $RJF

United Capital Financial Advisors LLC purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 11,966 shares of the financial services provider’s stock, valued at approximately $1,819,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. increased its stake in shares of Raymond James Financial by 1.5% in 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. Collective Family Office LLC boosted its holdings in Raymond James Financial by 3.0% in the 2nd quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Raymond James Financial by 10.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock valued at $116,000 after buying an additional 71 shares during the period. Parallel Advisors LLC increased its holdings in shares of Raymond James Financial by 4.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after buying an additional 71 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Raymond James Financial by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock valued at $358,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the firm’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 value of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This trade represents a 11.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s 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 transaction, the insider 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on RJF shares. Argus lifted their target price on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. BMO Capital Markets reiterated a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and an average price target of $181.00.

Raymond James Financial Stock Performance

NYSE RJF opened at $179.50 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The company has a market cap of $34.53 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.10 and a beta of 0.92. The stock has a 50-day moving average of $170.25 and a two-hundred day moving average of $158.11. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73.

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

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s dividend payout ratio is 18.83%.

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.