226,811 Shares in Raymond James Financial, Inc. $RJF Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position 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 bought 226,811 shares of the financial services provider’s stock, valued at approximately $34,482,000. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Raymond James Financial at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in RJF. Reflection Asset Management acquired a new stake in shares of Raymond James Financial during the 4th quarter worth approximately $28,000. Hilton Head Capital Partners LLC acquired a new position in Raymond James Financial in the fourth quarter valued at approximately $35,000. Steigerwald Gordon & Koch Inc. grew its position 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 worth $37,000 after acquiring an additional 228 shares during the period. Clearstead Trust LLC purchased a new position in Raymond James Financial in the second quarter worth approximately $40,000. Finally, DV Equities LLC acquired a new stake in Raymond James Financial during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 0.8%

NYSE:RJF opened at $176.66 on Tuesday. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73. The stock’s fifty day moving average is $168.69 and its two-hundred day moving average is $157.83. The stock has a market capitalization of $33.98 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.07 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 (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Research analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Insider Activity

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the sale, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the 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 directly owned 45,114 shares in the company, valued at $7,942,770.84. This represents a 18.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Argus boosted their price objective on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a report on Thursday, July 30th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, Barclays increased their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $181.00.

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.