Sanctuary Advisors LLC Takes Position in Raymond James Financial, Inc. $RJF

Sanctuary Advisors LLC bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,616 shares of the financial services provider’s stock, valued at approximately $2,830,000.

Several other hedge funds have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its holdings in Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 17,407 shares during the period. Algebris UK Ltd. acquired a new position in shares of Raymond James Financial in the 4th quarter valued at $10,179,000. Fisher Asset Management LLC boosted its position in shares of Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after purchasing an additional 25,410 shares during the last quarter. Swedbank AB grew its stake in shares of Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock worth $6,654,000 after purchasing an additional 9,838 shares during the period. Finally, Wealthfront Advisers LLC increased its holdings in Raymond James Financial by 40.8% in the fourth quarter. Wealthfront Advisers LLC now owns 24,725 shares of the financial services provider’s stock valued at $3,971,000 after purchasing an additional 7,164 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF opened at $174.92 on Wednesday. The firm has a 50-day moving average of $169.03 and a 200-day moving average of $157.87. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73. The company has a market cap of $33.65 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03.

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

Insider Buying and Selling

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the business’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 transaction, the insider owned 43,046 shares of the company’s stock, valued at $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Citizens Jmp lifted their price objective on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 23rd. UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Morgan Stanley boosted their price target on shares of 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, Argus raised their price objective on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Five equities research 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, Raymond James Financial presently has a consensus rating of “Hold” and an average price target of $181.00.

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.