28,579 Shares in Raymond James Financial, Inc. $RJF Bought by Corient Private Wealth LP

Corient Private Wealth LP purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, HoldingsChannel reports. The fund purchased 28,579 shares of the financial services provider’s stock, valued at approximately $4,345,000.

Other hedge funds also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. lifted its stake in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 61 shares in the last quarter. Collective Family Office LLC grew its stake in shares of Raymond James Financial by 3.0% in the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after buying an additional 62 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Raymond James Financial by 10.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock valued at $116,000 after buying an additional 71 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Raymond James Financial by 4.3% during the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after buying an additional 71 shares during the period. Finally, Meeder Advisory Services Inc. raised its holdings in shares of Raymond James Financial by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock valued at $358,000 after buying an additional 72 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of Raymond James Financial stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the completion of the transaction, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 23,270 shares of company stock valued at $4,090,637. Company insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of a number of analyst reports. Barclays upped their price target on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Citizens Jmp raised 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 report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th. TD Cowen cut 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 report on Thursday, July 23rd. Finally, Argus upped their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $181.00.

Raymond James Financial Trading Down 0.6%

RJF opened at $178.33 on Tuesday. 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 $34.30 billion, a PE ratio of 15.55, a P/E/G ratio of 1.10 and a beta of 0.92. The firm’s fifty day moving average price is $170.68 and its 200 day moving average price is $158.13.

Raymond James Financial (NYSE:RJF) last released its earnings results 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. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the firm earned $2.18 EPS. The company’s revenue was up 15.6% on a year-over-year basis. As a group, research analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, October 1st. Raymond James Financial’s payout ratio is currently 18.83%.

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.