Visionary Wealth Advisors Invests $510,000 in Raymond James Financial, Inc. $RJF

Visionary Wealth Advisors bought a new position in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,355 shares of the financial services provider’s stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cullen Capital Management LLC bought a new position in Raymond James Financial in the 2nd quarter valued at approximately $2,564,000. Cibc World Market Inc. bought a new stake in shares of Raymond James Financial in the 2nd quarter worth $2,050,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Raymond James Financial in the second quarter worth $4,090,000. Osmosis Investment Management UK Ltd purchased a new position in shares of Raymond James Financial in the second quarter worth $691,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Raymond James Financial during the second quarter valued at $2,830,000. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James Financial

In related news, insider Steven M. Raney sold 5,770 shares of Raymond James Financial 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 of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction that occurred on 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 sale, the insider owned 45,114 shares in the company, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RJF shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. 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. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Finally, Argus lifted their target price on shares of Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $181.00.

Raymond James Financial Price Performance

NYSE RJF opened at $176.66 on Tuesday. The business’s fifty day moving average is $168.69 and its 200 day moving average is $157.83. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two 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 has a market capitalization of $33.98 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last issued 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 business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the business posted $2.18 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

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.