39,704 Shares in Raymond James Financial, Inc. $RJF Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC bought a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, Holdings Channel.com reports. The institutional investor bought 39,704 shares of the financial services provider’s stock, valued at approximately $6,036,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Plato Investment Management Ltd bought a new stake in shares of Raymond James Financial during the 2nd quarter valued at about $689,000. Uniting Wealth Partners LLC bought a new position in shares of Raymond James Financial in the second quarter worth approximately $724,000. HBK Sorce Advisory LLC bought a new position in shares of Raymond James Financial in the second quarter worth approximately $951,000. Global Retirement Partners LLC purchased a new stake in Raymond James Financial in the second quarter valued at approximately $154,000. Finally, Bank of New York Mellon Corp purchased a new stake in Raymond James Financial in the second quarter valued at approximately $182,254,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $172.97, for a total transaction of $998,036.90. Following the sale, the insider owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RJF shares. Morgan Stanley increased their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. Citizens Jmp upped their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 23rd. TD Cowen cut their target price on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, Argus lifted their price target 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 research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Price Performance

Shares of Raymond James Financial stock opened at $180.85 on Monday. 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, Inc. has a one year low of $138.82 and a one year high of $182.73. The business’s 50 day simple moving average is $165.70 and its two-hundred day simple moving average is $157.43. The stock has a market capitalization of $34.79 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.11 and a beta of 0.92.

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, 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 firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the business earned $2.18 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. Analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

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.