Cullen Capital Management LLC Invests $2.56 Million in Raymond James Financial, Inc. $RJF

Cullen Capital Management LLC purchased a new position in Raymond James Financial, Inc. (NYSE:RJF) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,866 shares of the financial services provider’s stock, valued at approximately $2,564,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Cibc World Market Inc. bought a new position in Raymond James Financial during the 2nd quarter worth approximately $2,050,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Raymond James Financial in the 2nd quarter worth approximately $4,090,000. Osmosis Investment Management UK Ltd bought a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $691,000. Sanctuary Advisors LLC bought a new stake in shares of Raymond James Financial in the 2nd quarter valued at approximately $2,830,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Raymond James Financial during the 2nd quarter valued at approximately $34,482,000. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen reduced their price objective on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th. Citizens Jmp increased their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Raymond James Financial from $175.00 to $179.00 and gave the company a “neutral” rating in a 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $181.00.

Raymond James Financial Trading Up 0.8%

Shares of NYSE RJF 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 market cap of $33.98 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth 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. The stock’s 50 day simple moving average is $168.69 and its 200 day simple moving average is $157.83.

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 return on equity of 19.07% and a net margin of 13.57%.The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the business earned $2.18 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. Equities research analysts expect that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Insider Buying and Selling at Raymond James Financial

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the insider owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. The trade was a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the insider 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 disclosure for this sale is available in the SEC filing. Insiders own 0.58% of the company’s stock.

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.