First Republic Investment Management Inc. Buys Shares of 3,563 Raymond James (RJF)

First Republic Investment Management Inc. bought a new position in shares of Raymond James (NYSE:RJF) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,563 shares of the financial services provider’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Raymond James by 0.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,642,714 shares of the financial services provider’s stock worth $243,262,000 after purchasing an additional 11,510 shares during the period. Legal & General Group Plc raised its holdings in shares of Raymond James by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 570,361 shares of the financial services provider’s stock worth $52,501,000 after acquiring an additional 7,590 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Raymond James by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock worth $1,266,683,000 after acquiring an additional 182,616 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Raymond James by 2.4% during the 4th quarter. Gateway Investment Advisers LLC now owns 7,251 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 168 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Raymond James by 6.5% during the 4th quarter. DNB Asset Management AS now owns 14,800 shares of the financial services provider’s stock worth $1,101,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

In related news, CEO Paul C. Reilly sold 60,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $91.35, for a total transaction of $5,481,000.00. Following the sale, the chief executive officer now owns 80,382 shares in the company, valued at approximately $7,342,895.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven M. Raney sold 2,926 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $90.60, for a total value of $265,095.60. The disclosure for this sale can be found here. Insiders have sold a total of 109,156 shares of company stock worth $9,951,492 in the last 90 days. 10.74% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on RJF. Argus reaffirmed a “buy” rating on shares of Raymond James in a report on Tuesday, April 30th. Citigroup upped their price objective on Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. ValuEngine raised Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Wells Fargo & Co upped their price objective on Raymond James from $92.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, Zacks Investment Research raised Raymond James from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Raymond James currently has a consensus rating of “Buy” and a consensus target price of $94.63.

NYSE:RJF opened at $84.00 on Monday. Raymond James has a fifty-two week low of $69.11 and a fifty-two week high of $102.17. The firm has a market cap of $11.85 billion, a P/E ratio of 12.98 and a beta of 1.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.11.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.14. Raymond James had a return on equity of 15.90% and a net margin of 12.90%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Raymond James’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Raymond James will post 7.47 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This story was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://sportsperspectives.com/2019/05/20/first-republic-investment-management-inc-buys-shares-of-3563-raymond-james-rjf.html.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.

Recommended Story: How to find the components of the quick ratio

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJF).

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

Receive News & Ratings for Raymond James Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James and related companies with MarketBeat.com's FREE daily email newsletter.