Fairtree Asset Management Pty Ltd Makes New Investment in Raymond James Financial, Inc. $RJF

Fairtree Asset Management Pty Ltd acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, Holdings Channel.com reports. The firm acquired 11,665 shares of the financial services provider’s stock, valued at approximately $1,773,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Reflection Asset Management purchased a new position in shares of Raymond James Financial during the 4th quarter worth about $28,000. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial in the fourth quarter worth about $35,000. DV Equities LLC purchased a new position in shares of Raymond James Financial during the fourth quarter valued at approximately $40,000. Salomon & Ludwin LLC boosted its position in shares of Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after buying an additional 65 shares during the period. Finally, Steigerwald Gordon & Koch Inc. grew its stake 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. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $172.21 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The company has a market capitalization of $33.13 billion, a PE ratio of 15.01, a P/E/G ratio of 1.09 and a beta of 0.92. The company has a 50 day moving average price of $167.82 and a 200-day moving average price of $157.70. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $182.73.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data 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. The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.Raymond James Financial’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 earnings per share. As a group, equities analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Citizens Jmp upped their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $181.00.

Insiders Place Their Bets

In other news, 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 transaction, the insider owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction 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 transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is currently owned by corporate insiders.

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.