5,268 Shares in Raymond James Financial, Inc. $RJF Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC bought a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,268 shares of the financial services provider’s stock, valued at approximately $951,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new position in shares of Raymond James Financial during the fourth quarter worth $28,000. Hilton Head Capital Partners LLC bought a new stake in shares of Raymond James Financial in the fourth quarter worth $35,000. Steigerwald Gordon & Koch Inc. increased its holdings in Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares during the period. Clearstead Trust LLC acquired a new stake in Raymond James Financial in the second quarter valued at $40,000. Finally, DV Equities LLC bought a new position in Raymond James Financial during the 4th quarter worth $40,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on RJF shares. Morgan Stanley lifted their target price on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Argus increased 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. JPMorgan Chase & Co. raised their price objective on Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Citizens Jmp lifted their price objective on 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. Finally, Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Raymond James Financial has a consensus rating of “Hold” and an average target price of $181.00.

Raymond James Financial Price Performance

RJF stock opened at $180.85 on Monday. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.11 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73. The company’s fifty day simple moving average is $165.70 and its 200 day simple moving average is $157.43.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share 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 firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the business posted $2.18 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. On average, analysts expect that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is 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.