4,559 Shares in Raymond James Financial, Inc. $RJF Bought by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,559 shares of the financial services provider’s stock, valued at approximately $689,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reflection Asset Management bought a new stake in shares of Raymond James Financial in the 4th quarter valued at about $28,000. Hilton Head Capital Partners LLC purchased a new position in Raymond James Financial in the 4th quarter worth approximately $35,000. DV Equities LLC bought a new stake in Raymond James Financial in the fourth quarter valued at approximately $40,000. Salomon & Ludwin LLC lifted its position in Raymond James Financial by 34.8% in the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. boosted 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 purchasing an additional 228 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Price Performance

Shares of RJF stock opened at $179.19 on Wednesday. The stock has a market cap of $34.47 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.11 and a beta of 0.92. The business’s fifty day moving average is $166.85 and its 200 day moving average is $157.58. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the firm posted $2.18 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Research analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent analyst reports. Barclays raised their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Citizens Jmp increased their price target on shares of 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. BMO Capital Markets reissued a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.00.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the sale, the insider owned 45,114 shares of the company’s stock, valued at $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the sale, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The SEC filing for this sale provides additional information. 0.58% of the stock is owned by company insiders.

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.