Quantbot Technologies LP Purchases Shares of 32,510 Raymond James Financial, Inc. $RJF

Quantbot Technologies LP 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 32,510 shares of the financial services provider’s stock, valued at approximately $4,942,000.

Several other hedge funds have also modified their holdings of the company. Empowered Funds LLC boosted its position in shares of Raymond James Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 314 shares during the last quarter. Woodline Partners LP increased its position in Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after purchasing an additional 4,592 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 685 shares during the last quarter. Brown Advisory Inc. raised its stake in Raymond James Financial by 15.1% during the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Raymond James Financial during the second quarter valued at $363,000. 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 stock in a transaction that occurred 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 approximately $7,445,666.62. The trade was a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Morgan Stanley increased their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Argus boosted their price objective 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. Finally, BMO Capital Markets restated a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Trading Up 1.8%

Shares of RJF opened at $175.37 on Friday. The company’s fifty day simple moving average is $168.25 and its 200-day simple moving average is $157.82. The company has a market cap of $33.73 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.07 and a beta of 0.92. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73.

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, analysts expect 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.