Sanctuary Advisors LLC Purchases New Position in Raymond James Financial, Inc. $RJF

Sanctuary Advisors LLC purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,616 shares of the financial services provider’s stock, valued at approximately $2,830,000.

Several other hedge funds have also recently bought and sold shares of RJF. Great Valley Advisor Group Inc. boosted its holdings in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the period. Collective Family Office LLC grew its position in shares of Raymond James Financial by 3.0% in the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Raymond James Financial by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 71 shares during the period. Parallel Advisors LLC increased its stake in shares of Raymond James Financial by 4.3% during the third quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 71 shares during the period. Finally, Meeder Advisory Services Inc. lifted its holdings in Raymond James Financial by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 72 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Price Performance

Shares of NYSE RJF opened at $174.92 on Wednesday. The stock has a market capitalization of $33.65 billion, a PE ratio of 15.25, a P/E/G ratio of 1.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.06 and a quick ratio of 1.03. The business has a fifty day moving average price of $169.03 and a two-hundred day moving average price of $157.87. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $182.73.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share 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 the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 EPS. As a group, equities analysts predict that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on RJF. JPMorgan Chase & Co. upped their price objective on Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. UBS Group set a $184.00 target price on Raymond James Financial and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Monday, August 17th. TD Cowen dropped 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 note on Thursday, July 23rd. Finally, Barclays boosted their price objective on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and an average price target of $181.00.

Insider Transactions at Raymond James Financial

In related news, 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 completion of the sale, the insider 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the company’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 directly owned 43,046 shares of the company’s stock, valued at $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.

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.