Citizens Financial Group Inc. RI Invests $506,000 in Raymond James Financial, Inc. $RJF

Citizens Financial Group Inc. RI purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,329 shares of the financial services provider’s stock, valued at approximately $506,000.

Other institutional investors have also recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc purchased a new position in Raymond James Financial in the second quarter worth approximately $264,000. BlackRock Inc. acquired a new stake in Raymond James Financial during the second quarter worth $2,180,699,000. Deutsche Bank AG acquired a new stake in Raymond James Financial during the second quarter worth $87,725,000. Perigon Wealth Management LLC purchased a new stake in Raymond James Financial in the second quarter valued at $244,000. Finally, Phillips Wealth Planners LLC purchased a new stake in Raymond James Financial in the second quarter valued at $406,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Down 0.8%

Shares of NYSE RJF opened at $177.93 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $167.39 and its two-hundred day moving average is $157.65. Raymond James Financial, Inc. has a 52-week low of $138.82 and a 52-week high of $182.73. The firm has a market cap of $34.23 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.10 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the business posted $2.18 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Research analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RJF shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday. BMO Capital Markets restated a “market perform” rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. TD Cowen reduced their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Barclays upped their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley increased their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $181.00.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction dated 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 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 SEC filing for this sale provides additional information. 0.58% of the stock is currently owned by corporate insiders.

About Raymond James Financial

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.