United Capital Financial Advisors LLC Takes $1.82 Million Position in Raymond James Financial, Inc. $RJF

United Capital Financial Advisors LLC bought a new position in Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,966 shares of the financial services provider’s stock, valued at approximately $1,819,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. BlackRock Inc. acquired a new position in shares of Raymond James Financial in the second quarter valued at about $2,180,699,000. Primecap Management Co. CA acquired a new stake in shares of Raymond James Financial during the second quarter worth about $1,405,145,000. Bank of America Corp DE acquired a new stake in shares of Raymond James Financial during the second quarter worth about $360,592,000. Norges Bank purchased a new stake in Raymond James Financial in the fourth quarter valued at approximately $324,263,000. Finally, Bank of New York Mellon Corp acquired a new position in Raymond James Financial in the 2nd quarter worth approximately $182,254,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. 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. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. TD Cowen reduced their price objective on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $181.00.

Insider Buying and Selling at Raymond James Financial

In other news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider owned 43,046 shares in the company, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the transaction, the insider owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $179.50 on Friday. The firm has a market cap of $34.53 billion, a PE ratio of 15.65, a P/E/G ratio of 1.10 and a beta of 0.92. 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. The business has a 50-day moving average price of $170.25 and a 200 day moving average price of $158.11.

Raymond James Financial (NYSE:RJF) last issued 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. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.Raymond James Financial’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $2.18 earnings per share. Sell-side analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s dividend payout ratio is currently 18.83%.

About Raymond James Financial

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.