Visionary Wealth Advisors Purchases Shares of 3,355 Raymond James Financial, Inc. $RJF

Visionary Wealth Advisors acquired a new position in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,355 shares of the financial services provider’s stock, valued at approximately $510,000.

Other hedge funds have also modified their holdings of the company. Cullen Capital Management LLC bought a new position in shares of Raymond James Financial during the 2nd quarter valued at approximately $2,564,000. Cibc World Market Inc. bought a new stake in Raymond James Financial in the second quarter worth $2,050,000. OMERS ADMINISTRATION Corp bought a new stake in Raymond James Financial in the second quarter worth $4,090,000. Osmosis Investment Management UK Ltd purchased a new stake in Raymond James Financial during the second quarter valued at $691,000. Finally, Sanctuary Advisors LLC purchased a new stake in Raymond James Financial during the second quarter valued at $2,830,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James Financial

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven M. Raney sold 5,770 shares of the company’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 transaction, the insider directly owned 43,046 shares in the company, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their position. The SEC filing for this sale provides additional information. 0.58% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on RJF. UBS Group set a $184.00 price objective on shares of Raymond James Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. BMO Capital Markets restated a “market perform” rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. TD Cowen lowered their price target on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Morgan Stanley lifted their price target on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Finally, Barclays boosted 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. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $176.66 on Tuesday. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month 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 firm has a 50-day moving average price of $168.69 and a 200-day moving average price of $157.83. The firm has a market capitalization of $33.98 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating 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 company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm posted $2.18 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current 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.