HBK Sorce Advisory LLC Makes New Investment in Raymond James Financial, Inc. $RJF

HBK Sorce Advisory LLC acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,268 shares of the financial services provider’s stock, valued at approximately $951,000.

A number of other institutional investors have also recently modified their holdings of the stock. Great Valley Advisor Group Inc. raised its stake in Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock valued at $625,000 after purchasing an additional 61 shares in the last quarter. Collective Family Office LLC lifted its position 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 worth $323,000 after purchasing an additional 62 shares during the period. Salomon & Ludwin LLC grew its stake in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after buying an additional 65 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Raymond James Financial by 10.2% in the 2nd 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 during the period. Finally, Parallel Advisors LLC increased its holdings in Raymond James Financial by 4.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock valued at $297,000 after buying an additional 71 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction 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 sale, the insider owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This trade represents a 11.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RJF. JPMorgan Chase & Co. upped their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a 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. Citizens Jmp upped their target price 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. TD Cowen reduced their target price on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Finally, UBS Group set a $184.00 price target on Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Five equities 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 stock currently has a consensus rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Trading Up 0.0%

RJF opened at $180.85 on Monday. The company’s 50 day moving average is $165.70 and its 200-day moving average is $157.43. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The company has a market cap of $34.79 billion, a P/E ratio of 15.77, a PEG ratio of 1.11 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results 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. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.18 EPS. Equities research analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

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.