7,308 Shares in Raymond James Financial, Inc. $RJF Bought by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC purchased a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,308 shares of the financial services provider’s stock, valued at approximately $1,111,000.

A number of other hedge funds also recently made changes to their positions in RJF. Kingsview Wealth Management LLC boosted its holdings in Raymond James Financial by 586.7% during the fourth 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 shares of Raymond James Financial in the 4th quarter worth approximately $10,179,000. Fisher Asset Management LLC raised its holdings in shares of Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after buying an additional 7,202 shares during the period. Finally, Swedbank AB boosted its stake in Raymond James Financial by 31.1% in the 4th 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. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RJF. BMO Capital Markets reiterated a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research note on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Barclays upped their target price 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. Morgan Stanley lifted 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. Finally, Argus boosted their price target on shares of Raymond James Financial from $178.00 to $196.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Raymond James Financial currently has an average rating of “Hold” and a consensus target price of $181.00.

Insider Buying and Selling

In related news, insider Steven M. Raney sold 5,770 shares of the firm’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 completion of the sale, the insider owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’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 completion of the transaction, the insider owned 45,114 shares of the company’s stock, valued at $7,942,770.84. This trade represents a 18.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.58% of the company’s stock.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $180.85 on Monday. The stock has a 50-day simple moving average of $165.70 and a 200 day simple moving average of $157.43. The stock has a market capitalization of $34.79 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.11 and a beta of 0.92. 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, Inc. has a 12-month low of $138.82 and a 12-month high of $182.73.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The company’s revenue was up 15.6% on a year-over-year basis. On average, research analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal 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.