OMERS ADMINISTRATION Corp Makes New $4.09 Million Investment in Raymond James Financial, Inc. $RJF

OMERS ADMINISTRATION Corp bought a new position in Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 26,900 shares of the financial services provider’s stock, valued at approximately $4,090,000.

Other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new position in Raymond James Financial in the 4th quarter worth approximately $28,000. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial during the 4th quarter valued at $35,000. Steigerwald Gordon & Koch Inc. lifted its position in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 228 shares in the last quarter. Clearstead Trust LLC bought a new position in shares of Raymond James Financial in the second quarter worth $40,000. Finally, DV Equities LLC bought a new stake in shares of Raymond James Financial during the 4th quarter valued at $40,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RJF has been the subject of several analyst reports. Argus raised their target price 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. BMO Capital Markets reissued a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. 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 research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $181.00.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $176.06, for a total value of $1,760,600.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven M. Raney sold 5,770 shares of the business’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 completion of the sale, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade 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 Price Performance

Raymond James Financial stock opened at $174.92 on Wednesday. The stock has a market cap of $33.65 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.08 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. The business has a 50-day simple moving average of $169.03 and a 200 day simple moving average of $157.87. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating 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 firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the firm posted $2.18 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. On average, research analysts forecast 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.