Keating Financial Advisory Services Inc. Purchases New Stake in Raymond James Financial, Inc. $RJF

Keating Financial Advisory Services Inc. purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,731 shares of the financial services provider’s stock, valued at approximately $567,000.

Several other large investors also recently made changes to their positions in the business. Empowered Funds LLC raised its position in Raymond James Financial by 8.2% in the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares during the period. Woodline Partners LP grew its stake in shares of Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after buying an additional 4,592 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Raymond James Financial by 137.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock valued at $182,000 after buying an additional 685 shares during the period. Brown Advisory Inc. lifted its position in Raymond James Financial by 15.1% during the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new position in Raymond James Financial in the 2nd quarter worth approximately $363,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Trading Up 1.8%

RJF opened at $175.37 on Friday. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The stock has a market capitalization of $33.73 billion, a PE ratio of 15.29, a P/E/G ratio of 1.06 and a beta of 0.92. The firm’s fifty day moving average price is $168.25 and its 200 day moving average price is $157.82.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. As a group, research analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RJF shares. Argus upped their target price on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Morgan Stanley increased their price target on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Finally, TD Cowen lowered their price objective on 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. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.00.

Insider Activity

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s 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 sale, the insider owned 45,114 shares in the company, valued at $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 available 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 stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, 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. Company insiders own 0.58% of the company’s stock.

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.