Callan Family Office LLC Acquires New Stake in Raymond James Financial, Inc. $RJF

Callan Family Office LLC bought a new position in Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,573 shares of the financial services provider’s stock, valued at approximately $543,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. raised its stake in shares of Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after buying an additional 61 shares in the last quarter. Collective Family Office LLC boosted its stake in Raymond James Financial by 3.0% during 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 boosted its stake in Raymond James Financial by 10.2% during 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 grew its holdings in Raymond James Financial by 4.3% during the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 71 shares during the period. Finally, Meeder Advisory Services Inc. raised its position in Raymond James Financial by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 72 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Activity at Raymond James Financial

In related news, insider Steven M. Raney sold 5,770 shares of the firm’s 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. This trade represents a 11.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James Financial stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.58% of the stock is currently owned by corporate insiders.

Raymond James Financial Price Performance

NYSE RJF opened at $174.92 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $182.73. The company has a market cap of $33.65 billion, a PE ratio of 15.25, a PEG ratio of 1.08 and a beta of 0.92. The stock’s 50-day moving average price is $169.03 and its two-hundred day moving average price is $157.87.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company posted $2.18 earnings per share. On average, analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research analyst reports. BMO Capital Markets reissued a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Barclays raised their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, TD Cowen decreased their price target on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.