Keating Financial Advisory Services Inc. Makes New Investment in Raymond James Financial, Inc. $RJF

Keating Financial Advisory Services Inc. purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, HoldingsChannel.com reports. The fund purchased 3,731 shares of the financial services provider’s stock, valued at approximately $567,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Raymond James Financial during the second quarter worth about $2,180,699,000. First Trust Advisors LP lifted its holdings in Raymond James Financial by 18.3% in the fourth quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after acquiring an additional 474,477 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Raymond James Financial by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after acquiring an additional 21,856 shares during the period. Bank of America Corp DE grew its holdings in shares of Raymond James Financial by 9.9% during the first quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock valued at $354,701,000 after purchasing an additional 220,227 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock valued at $347,390,000 after purchasing an additional 41,413 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

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 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 in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were 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 of the company’s stock, valued at $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. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Stock Up 1.8%

RJF opened at $175.37 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The company has a market capitalization of $33.73 billion, a PE ratio of 15.29, a P/E/G ratio of 1.06 and a beta of 0.92. The stock’s fifty day moving average is $168.25 and its 200-day moving average is $157.82. Raymond James Financial, Inc. has a one year low of $138.82 and a one year high of $182.73.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The firm 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 firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. On average, equities analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Analysts Set New Price Targets

RJF has been the subject of a number of analyst reports. Argus boosted their price objective on Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. BMO Capital Markets reissued a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Barclays increased their price objective 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, UBS Group set a $184.00 target price on shares of 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 given a Hold rating to the company’s stock. According to MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus target price 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.