Stuart Investment Advisors Inc. Acquires Shares of 19,115 Raymond James Financial, Inc. $RJF

Stuart Investment Advisors Inc. bought a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, HoldingsChannel reports. The firm bought 19,115 shares of the financial services provider’s stock, valued at approximately $2,906,000. Raymond James Financial accounts for 1.2% of Stuart Investment Advisors Inc.’s investment portfolio, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Kingsview Wealth Management LLC lifted its stake in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares in the last quarter. Algebris UK Ltd. purchased a new stake in Raymond James Financial during the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC increased its stake in Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Raymond James Financial by 7.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after acquiring an additional 7,202 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after acquiring an additional 9,838 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction that occurred on Monday, July 27th. The shares were 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. The trade was a 11.82% 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 Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Citizens Jmp boosted their price target on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 23rd. UBS Group set a $184.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Morgan Stanley raised their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Finally, Argus lifted their target price on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.00.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $180.85 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $165.70 and a 200 day moving average price of $157.52. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73. The stock has a market cap of $34.79 billion, a P/E ratio of 15.77, a PEG ratio of 1.11 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the business posted $2.18 EPS. Raymond James Financial’s revenue was up 15.6% on a year-over-year basis. Sell-side analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

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.