Cibc World Market Inc. bought a new stake in Raymond James Financial, Inc. (NYSE:RJF – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor bought 13,483 shares of the financial services provider’s stock, valued at approximately $2,050,000.
Several other large investors have also recently bought and sold shares of RJF. Reflection Asset Management purchased a new stake in shares of Raymond James Financial in the fourth quarter worth approximately $28,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Raymond James Financial during the 4th quarter valued at about $35,000. Steigerwald Gordon & Koch Inc. grew its stake in shares of Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after buying an additional 228 shares in the last quarter. Clearstead Trust LLC acquired a new position in Raymond James Financial in the second quarter worth approximately $40,000. Finally, DV Equities LLC acquired a new stake in Raymond James Financial in the fourth quarter valued at approximately $40,000. 83.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on RJF. BMO Capital Markets restated a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Argus raised their target price on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. TD Cowen dropped their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, Citigroup reissued a “market outperform” rating 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 given a Hold rating to the company’s stock. According to MarketBeat, Raymond James Financial presently has an average rating of “Hold” and an average price target of $181.00.
Raymond James Financial Stock Up 1.2%
Shares of NYSE:RJF opened at $176.85 on Thursday. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The company’s fifty day moving average is $169.39 and its 200-day moving average is $157.93. The company has a market capitalization of $34.02 billion, a PE ratio of 15.42, a P/E/G ratio of 1.07 and a beta of 0.92.
Raymond James Financial (NYSE:RJF – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.23. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. Equities research analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.
Insider Buying and Selling at Raymond James Financial
In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction dated Monday, July 27th. The stock was 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 in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.58% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Raymond James Financial
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
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 Financial, Inc. (NYSE:RJF – Free Report).
Receive News & Ratings for Raymond James Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial and related companies with MarketBeat.com's FREE daily email newsletter.
