Beverly Hills Private Wealth LLC Takes Position in Raymond James Financial, Inc. $RJF

Beverly Hills Private Wealth LLC purchased a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, HoldingsChannel.com reports. The fund purchased 7,308 shares of the financial services provider’s stock, valued at approximately $1,111,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC acquired a new stake in Raymond James Financial during the 2nd quarter worth $6,036,000. Plato Investment Management Ltd bought a new position in shares of Raymond James Financial in the 2nd quarter worth $689,000. Uniting Wealth Partners LLC bought a new position in shares of Raymond James Financial in the 2nd quarter worth $724,000. HBK Sorce Advisory LLC acquired a new stake in shares of Raymond James Financial during the second quarter worth $951,000. Finally, Global Retirement Partners LLC bought a new stake in Raymond James Financial in the second quarter valued at about $154,000. 83.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RJF shares. UBS Group set a $184.00 target price on Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Argus upped their price target on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citizens Jmp increased their price target on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. Finally, TD Cowen reduced their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note 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 data from MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average target price of $181.00.

Raymond James Financial Stock Performance

RJF stock opened at $180.85 on Monday. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The firm has a market cap of $34.79 billion, a PE ratio of 15.77, a P/E/G ratio of 1.11 and a beta of 0.92. The business’s 50-day moving average price is $165.70 and its two-hundred day moving average price is $157.43.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.87 billion. During the same quarter last year, the firm posted $2.18 earnings per share. Raymond James Financial’s revenue was up 15.6% compared to the same quarter last year. As a group, research analysts forecast that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction that occurred on 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 owned 43,046 shares in the company, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial 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.