BlackRock Inc. boosted its stake in Raymond James Financial, Inc. (NYSE:RJF) by 4.7% during the 4th quarter, HoldingsChannel reports. The fund owned 8,483,302 shares of the financial services provider’s stock after buying an additional 383,937 shares during the period. BlackRock Inc. owned about 0.06% of Raymond James Financial worth $757,558,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cerebellum GP LLC acquired a new stake in Raymond James Financial in the fourth quarter valued at $129,000. Squar Milner Financial Services LLC bought a new stake in Raymond James Financial during the fourth quarter valued at $205,000. Claraphi Advisory Network LLC bought a new stake in Raymond James Financial during the fourth quarter valued at $202,000. Advisor Partners LLC bought a new stake in Raymond James Financial during the fourth quarter valued at $218,000. Finally, Noesis Capital Mangement Corp bought a new stake in Raymond James Financial during the third quarter valued at $210,000. 68.35% of the stock is currently owned by hedge funds and other institutional investors.
RJF has been the subject of several recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $102.00 target price on shares of Raymond James Financial in a research note on Thursday, January 25th. Credit Suisse Group reiterated a “hold” rating and set a $82.00 target price on shares of Raymond James Financial in a research note on Wednesday, January 3rd. Wells Fargo & Co reiterated an “outperform” rating and set a $110.00 target price (up previously from $94.00) on shares of Raymond James Financial in a research note on Thursday, January 4th. Finally, Buckingham Research boosted their target price on shares of Raymond James Financial from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $99.29.
Shares of Raymond James Financial, Inc. (RJF) opened at $91.47 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Raymond James Financial, Inc. has a 12 month low of $71.35 and a 12 month high of $99.10. The firm has a market cap of $13,320.00, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 0.77 and a beta of 1.63.
Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.42 by $0.19. The business had revenue of $1.73 billion during 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%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. equities research analysts forecast that Raymond James Financial, Inc. will post 6.89 EPS for the current year.
In other news, SVP Jennifer C. Ackart sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $91.00, for a total transaction of $455,000.00. Following the completion of the transaction, the senior vice president now owns 7,028 shares in the company, valued at $639,548. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey P. Julien sold 11,925 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $85.27, for a total transaction of $1,016,844.75. Following the transaction, the chief financial officer now owns 45,466 shares of the company’s stock, valued at approximately $3,876,885.82. The disclosure for this sale can be found here. Insiders have sold 283,479 shares of company stock valued at $24,597,323 in the last 90 days. Insiders own 10.46% of the company’s stock.
Raymond James Financial 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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