Western Wealth Management LLC Takes $1.49 Million Position in Raymond James Financial, Inc. $RJF

Western Wealth Management LLC acquired a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, HoldingsChannel.com reports. The fund acquired 9,814 shares of the financial services provider’s stock, valued at approximately $1,492,000.

Other large investors have also added to or reduced their stakes in the company. Great Valley Advisor Group Inc. grew its position in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares in the last quarter. Collective Family Office LLC lifted its position in Raymond James Financial by 3.0% during the 2nd quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock worth $323,000 after buying an additional 62 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Raymond James Financial by 10.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock worth $116,000 after buying an additional 71 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of 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 acquiring an additional 71 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in shares of 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 valued at $358,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RJF shares. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Citizens Jmp increased their price target 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 objective on shares of 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. JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Finally, Argus lifted their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Stock Down 1.0%

RJF opened at $174.92 on Wednesday. The stock’s fifty day simple moving average is $169.03 and its 200 day simple moving average is $157.87. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73. The stock has a market cap of $33.65 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.08 and a beta of 0.92. 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 released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the business posted $2.18 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, research analysts expect that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Insider Transactions at Raymond James Financial

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the transaction, the insider owned 45,114 shares in the company, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction dated 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 transaction, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company 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.