Daiichi Life Insurance Co. Ltd. Invests $1.28 Million in Raymond James Financial, Inc. $RJF

Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,412 shares of the financial services provider’s stock, valued at approximately $1,279,000.

Several other large investors have also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Raymond James Financial during the 2nd quarter valued at about $2,180,699,000. First Trust Advisors LP lifted its position in shares of Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after purchasing an additional 474,477 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Raymond James Financial by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock worth $447,381,000 after purchasing an additional 21,856 shares during the period. Bank of America Corp DE boosted its holdings in shares of Raymond James Financial by 9.9% during the first quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after purchasing an additional 220,227 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock valued at $347,390,000 after purchasing an additional 41,413 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James Financial

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on 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 transaction, the insider owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the transaction, the insider owned 43,046 shares in the company, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. TD Cowen decreased their target price on shares of 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. Citizens Jmp boosted 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 report on Thursday, July 23rd. Argus upped their price target on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Trading Up 0.8%

NYSE:RJF opened at $176.66 on Tuesday. The stock’s 50 day moving average price is $168.69 and its 200 day moving average price is $157.83. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73. The company has a market capitalization of $33.98 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06.

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

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.