Bridgewater Advisors Inc. Purchases Shares of 4,652 Raymond James Financial, Inc. $RJF

Bridgewater Advisors Inc. bought a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 4,652 shares of the financial services provider’s stock, valued at approximately $824,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC grew its stake in Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares during the period. Algebris UK Ltd. purchased a new position in shares of Raymond James Financial in the fourth quarter worth about $10,179,000. Fisher Asset Management LLC raised its holdings in Raymond James Financial by 6.9% during the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock valued at $63,058,000 after acquiring an additional 25,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after purchasing an additional 7,202 shares during the period. Finally, Swedbank AB lifted its holdings in Raymond James Financial by 31.1% during the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after purchasing an additional 9,838 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Activity at Raymond James Financial

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $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 that occurred 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 sale, the insider directly owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This trade represents a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Argus upped their target price on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their price objective on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial has an average rating of “Hold” and an average target price of $181.00.

Raymond James Financial Trading Down 0.1%

RJF opened at $180.85 on Friday. The stock has a market cap of $34.79 billion, a PE ratio of 15.77, a PEG ratio of 1.11 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. The business has a 50 day moving average of $165.70 and a 200-day moving average of $157.52. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73.

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 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 company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the prior year, the firm earned $2.18 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share 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.