Primecap Management Co. CA Takes Position in Raymond James Financial, Inc. $RJF

Primecap Management Co. CA acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 9,242,552 shares of the financial services provider’s stock, valued at approximately $1,405,145,000. Raymond James Financial comprises approximately 0.8% of Primecap Management Co. CA’s investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Raymond James Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 4,592 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after buying an additional 685 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Raymond James Financial by 15.1% in the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after buying an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Raymond James Financial during the second quarter valued at $363,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on RJF shares. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. UBS Group set a $184.00 price target on Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Citizens Jmp boosted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, Barclays raised their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $181.00.

Insider Transactions at Raymond James Financial

In related news, insider Steven M. Raney sold 5,770 shares of the firm’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 transaction, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Down 1.0%

RJF opened at $174.92 on Wednesday. The stock has a market cap of $33.65 billion, a PE ratio of 15.25, a P/E/G ratio of 1.08 and a beta of 0.92. 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, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73. The business’s fifty day simple moving average is $169.03 and its 200 day simple moving average is $157.87.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, research analysts expect that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

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.