Meeder Asset Management Inc. grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 164.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,697 shares of the financial services provider’s stock after purchasing an additional 1,679 shares during the quarter. Meeder Asset Management Inc.’s holdings in Raymond James Financial were worth $241,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of RJF. AHL Partners LLP purchased a new position in shares of Raymond James Financial in the 2nd quarter worth $402,000. Gotham Asset Management LLC raised its position in shares of Raymond James Financial by 13.8% in the 2nd quarter. Gotham Asset Management LLC now owns 5,526 shares of the financial services provider’s stock worth $443,000 after buying an additional 671 shares during the period. BlueCrest Capital Management Ltd purchased a new position in shares of Raymond James Financial in the 2nd quarter worth $628,000. Nomura Holdings Inc. purchased a new position in shares of Raymond James Financial in the 2nd quarter worth $1,047,000. Finally, Verition Fund Management LLC purchased a new position in shares of Raymond James Financial in the 2nd quarter worth $322,000. 68.35% of the stock is currently owned by institutional investors.
In related news, insider Tashtego S. Elwyn sold 8,997 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $85.17, for a total transaction of $766,274.49. Following the sale, the insider now owns 22,178 shares of the company’s stock, valued at $1,888,900.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $85.51, for a total value of $3,847,950.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 330,479 shares of company stock worth $28,616,533. 10.46% of the stock is owned by corporate insiders.
Several research analysts recently weighed in on RJF shares. Buckingham Research increased their target price on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Credit Suisse Group reaffirmed a “hold” rating and issued a $99.00 target price on shares of Raymond James Financial in a research report on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $102.00 target price on shares of Raymond James Financial in a research report on Thursday, January 25th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $110.00 price objective (up from $94.00) on shares of Raymond James Financial in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $99.29.
Shares of Raymond James Financial, Inc. (NYSE RJF) traded up $1.25 during trading on Monday, hitting $92.56. The stock had a trading volume of 1,080,800 shares, compared to its average volume of 996,015. The firm has a market capitalization of $13,478.13, a P/E ratio of 22.47, a PEG ratio of 0.79 and a beta of 1.63. Raymond James Financial, Inc. has a 12 month low of $71.35 and a 12 month high of $99.10. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.53.
Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.19. Raymond James Financial had a return on equity of 14.87% and a net margin of 9.00%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. Raymond James Financial’s quarterly revenue was up 15.6% compared to the same quarter last year. sell-side analysts expect that Raymond James Financial, Inc. will post 6.89 earnings per share for the current year.
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Raymond James Financial Company 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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