Raymond James Financial Inc. Makes New $1.95 Million Investment in Root, Inc. (NASDAQ:ROOT)

Raymond James Financial Inc. bought a new stake in Root, Inc. (NASDAQ:ROOT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,894 shares of the company’s stock, valued at approximately $1,952,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ROOT. XTX Topco Ltd bought a new position in Root during the 3rd quarter valued at about $645,000. FMR LLC boosted its position in shares of Root by 966.2% during the third quarter. FMR LLC now owns 18,040 shares of the company’s stock valued at $682,000 after buying an additional 16,348 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Root during the third quarter valued at approximately $428,000. Barclays PLC grew its stake in shares of Root by 361.6% during the third quarter. Barclays PLC now owns 14,033 shares of the company’s stock valued at $529,000 after buying an additional 10,993 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Root by 120.0% in the third quarter. Quantbot Technologies LP now owns 14,836 shares of the company’s stock worth $561,000 after buying an additional 8,092 shares during the period. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Stock Performance

Shares of Root stock opened at $133.44 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The stock’s fifty day moving average price is $122.38 and its 200-day moving average price is $86.64. The firm has a market cap of $2.03 billion, a P/E ratio of -108.49 and a beta of 2.48. Root, Inc. has a 12 month low of $34.04 and a 12 month high of $181.14.

Root (NASDAQ:ROOT) last posted its earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The business had revenue of $326.70 million for the quarter, compared to the consensus estimate of $287.79 million. On average, equities research analysts expect that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Root

In other Root news, Director Doug Ulman sold 2,000 shares of Root stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the transaction, the director now owns 6,201 shares in the company, valued at $1,085,175. The trade was a 24.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ROOT has been the subject of a number of recent analyst reports. Scotiabank restated a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Wells Fargo & Company reissued a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Finally, UBS Group raised their price target on shares of Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Root presently has an average rating of “Moderate Buy” and an average target price of $88.33.

Root Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.