one8zero8 LLC Makes New $857,000 Investment in Raymond James Financial, Inc. $RJF

one8zero8 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 Securities and Exchange Commission (SEC). The fund bought 5,637 shares of the financial services provider’s stock, valued at approximately $857,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC raised its stake in shares of Raymond James Financial by 586.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares in the last quarter. Algebris UK Ltd. acquired a new position in Raymond James Financial in the fourth quarter worth about $10,179,000. Fisher Asset Management LLC grew its stake in Raymond James Financial by 6.9% in the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after purchasing an additional 25,410 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after buying an additional 7,202 shares during the last quarter. Finally, Swedbank AB raised its stake in Raymond James Financial by 31.1% during the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RJF shares. Barclays raised their price objective on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday. Citizens Jmp raised their price target 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. UBS Group set a $184.00 price target on shares of Raymond James Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, TD Cowen lowered their price objective 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. 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, Raymond James Financial presently has a consensus rating of “Hold” and an average price target of $181.00.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $177.93 on Thursday. The stock has a market cap of $34.23 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.10 and a beta of 0.92. The firm’s 50-day simple moving average is $167.39 and its 200 day simple moving average is $157.65. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $182.73. 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 issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. Equities analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Insider Buying and Selling at Raymond James Financial

In other news, insider Steven M. Raney sold 5,770 shares of the stock in a transaction 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 completion of the sale, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $1,760,600.00. Following the completion of the sale, the insider directly owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This represents a 18.14% 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.

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.