Raymond James Financial, Inc. (RJF) Shares Bought by Rhumbline Advisers
Rhumbline Advisers raised its stake in Raymond James Financial, Inc. (NYSE:RJF) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,093 shares of the financial services provider’s stock after buying an additional 2,655 shares during the period. Rhumbline Advisers’ holdings in Raymond James Financial were worth $21,887,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Raymond James Financial by 14.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 197,323 shares of the financial services provider’s stock worth $17,621,000 after purchasing an additional 25,014 shares during the period. Arizona State Retirement System lifted its holdings in shares of Raymond James Financial by 8.7% during the fourth quarter. Arizona State Retirement System now owns 94,739 shares of the financial services provider’s stock worth $8,460,000 after purchasing an additional 7,607 shares during the period. Pinebridge Investments L.P. lifted its holdings in shares of Raymond James Financial by 47.7% during the fourth quarter. Pinebridge Investments L.P. now owns 6,812 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 2,200 shares during the period. Squar Milner Financial Services LLC acquired a new position in shares of Raymond James Financial during the fourth quarter worth $205,000. Finally, Signition LP acquired a new position in shares of Raymond James Financial during the fourth quarter worth $376,000. Hedge funds and other institutional investors own 68.35% of the company’s stock.
A number of brokerages have recently commented on RJF. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $102.00 price target on shares of Raymond James Financial in a report on Thursday, January 25th. Buckingham Research lifted their price target on shares of Raymond James Financial from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Credit Suisse Group reiterated a “hold” rating and set a $82.00 price target on shares of Raymond James Financial in a report on Wednesday, January 3rd. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $110.00 price target (up previously from $94.00) on shares of Raymond James Financial in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Raymond James Financial currently has a consensus rating of “Buy” and a consensus price target of $99.29.
Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, January 24th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.19. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. Raymond James Financial had a net margin of 9.00% and a return on equity of 14.87%. Raymond James Financial’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. equities analysts expect that Raymond James Financial, Inc. will post 6.89 EPS for the current year.
In related news, insider Tashtego S. Elwyn sold 7,275 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $97.36, for a total value of $708,294.00. Following the transaction, the insider now owns 10,871 shares in the company, valued at $1,058,400.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jeffrey P. Julien sold 11,925 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $85.27, for a total transaction of $1,016,844.75. Following the completion of the transaction, the chief financial officer now owns 45,466 shares in the company, valued at approximately $3,876,885.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 283,479 shares of company stock worth $24,597,323. 10.46% of the stock is owned by company insiders.
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Raymond James Financial Company Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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