UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Raymond James Financial, Inc. $RJF

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 5.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,502,772 shares of the financial services provider’s stock after acquiring an additional 83,031 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Raymond James Financial were worth $228,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Mexico Educational Retirement Board boosted its position in Raymond James Financial by 8.7% during the 2nd quarter. New Mexico Educational Retirement Board now owns 8,775 shares of the financial services provider’s stock valued at $1,334,000 after acquiring an additional 700 shares in the last quarter. Mufg Securities Americas Inc. lifted its stake in shares of Raymond James Financial by 7.6% in the 2nd quarter. Mufg Securities Americas Inc. now owns 5,224 shares of the financial services provider’s stock valued at $794,000 after purchasing an additional 370 shares during the period. Van ECK Associates Corp lifted its stake in shares of Raymond James Financial by 141.2% in the 2nd quarter. Van ECK Associates Corp now owns 48,307 shares of the financial services provider’s stock valued at $7,344,000 after purchasing an additional 28,280 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of Raymond James Financial during the second quarter valued at approximately $6,281,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Raymond James Financial in the second quarter worth $111,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research reports. UBS Group set a $184.00 price objective on Raymond James Financial and gave the stock a “neutral” rating in a report on Monday, July 27th. Citizens Jmp upped their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.00.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the transaction, the insider owned 45,114 shares in the company, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven M. Raney sold 5,770 shares of the 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 owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,270 shares of company stock worth $4,090,637 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Down 0.6%

RJF stock opened at $178.33 on Tuesday. The business has a 50 day moving average of $170.68 and a 200 day moving average of $158.13. The firm has a market cap of $34.30 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.10 and a beta of 0.92. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. 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 (NYSE:RJF) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 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 business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the company posted $2.18 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, research analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a $0.54 dividend. The ex-dividend date is Thursday, October 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial’s payout ratio is presently 18.83%.

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.