Wealthfront Advisers LLC Purchases 5,021 Shares of Raymond James Financial, Inc. $RJF

Wealthfront Advisers LLC grew its position in Raymond James Financial, Inc. (NYSE:RJF) by 40.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,561 shares of the financial services provider’s stock after purchasing an additional 5,021 shares during the period. Wealthfront Advisers LLC’s holdings in Raymond James Financial were worth $3,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RJF. West Branch Capital LLC acquired a new stake in Raymond James Financial in the 3rd quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new position in shares of Raymond James Financial during the 3rd quarter worth approximately $31,000. Quent Capital LLC acquired a new stake in shares of Raymond James Financial in the third quarter valued at approximately $33,000. Princeton Global Asset Management LLC lifted its position in shares of Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 100 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of Raymond James Financial in the third quarter worth $50,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

NYSE:RJF opened at $158.42 on Friday. Raymond James Financial, Inc. has a 12-month low of $117.57 and a 12-month high of $177.66. The firm has a market capitalization of $31.22 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.17 and a beta of 1.00. The stock’s 50 day moving average price is $166.12 and its two-hundred day moving average price is $164.91. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the firm earned $2.93 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a $0.54 dividend. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.50. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, January 2nd. Raymond James Financial’s dividend payout ratio is presently 21.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. UBS Group set a $176.00 price objective on Raymond James Financial and gave the company a “neutral” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Morgan Stanley reissued a “positive” rating on shares of Raymond James Financial in a research report on Monday, December 22nd. Finally, TD Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $182.17.

Insider Buying and Selling at Raymond James Financial

In other news, insider Paul C. Reilly sold 130,687 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.15, for a total transaction of $21,321,584.05. Following the completion of the sale, the insider owned 260,546 shares in the company, valued at approximately $42,508,079.90. This trade represents a 33.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by insiders.

Raymond James Financial 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.