Raymond James Financial, Inc. $RJF Shares Bought by Virtus Investment Advisers LLC

Virtus Investment Advisers LLC lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 21.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,088 shares of the financial services provider’s stock after buying an additional 1,803 shares during the period. Virtus Investment Advisers LLC’s holdings in Raymond James Financial were worth $1,547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. Abacus Planning Group Inc. purchased a new stake in shares of Raymond James Financial during the 2nd quarter worth about $222,000. Swedbank AB lifted its position in Raymond James Financial by 173.0% during the second quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock valued at $4,846,000 after buying an additional 20,022 shares in the last quarter. Czech National Bank grew its stake in Raymond James Financial by 4.8% during the second quarter. Czech National Bank now owns 44,384 shares of the financial services provider’s stock worth $6,807,000 after buying an additional 2,026 shares during the period. First Hawaiian Bank increased its position in shares of Raymond James Financial by 45.5% in the first quarter. First Hawaiian Bank now owns 37,631 shares of the financial services provider’s stock worth $5,227,000 after acquiring an additional 11,771 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Raymond James Financial by 2,456.0% in the 1st quarter. Jump Financial LLC now owns 62,468 shares of the financial services provider’s stock valued at $8,677,000 after acquiring an additional 60,024 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. TD Cowen raised their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods boosted their price target on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley increased their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Trading Up 0.8%

NYSE:RJF opened at $155.82 on Friday. The stock has a market cap of $31.07 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The business’s 50-day simple moving average is $162.94 and its 200 day simple moving average is $160.07.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $2.95 EPS. Raymond James Financial’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.