Callan Family Office LLC Buys Shares of 3,573 Raymond James Financial, Inc. $RJF

Callan Family Office LLC bought a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,573 shares of the financial services provider’s stock, valued at approximately $543,000.

A number of other hedge funds have also made changes to their positions in the stock. 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 purchasing an additional 61 shares during the period. Collective Family Office LLC increased its stake in Raymond James Financial by 3.0% in the 2nd quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after buying an additional 62 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Raymond James Financial by 10.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock valued at $116,000 after buying an additional 71 shares during the period. Parallel Advisors LLC lifted its position in Raymond James Financial by 4.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,722 shares of the financial services provider’s stock worth $297,000 after buying an additional 71 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in Raymond James Financial by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,469 shares of the financial services provider’s stock worth $358,000 after buying an additional 72 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Citizens Jmp lifted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research report on Thursday, July 23rd. BMO Capital Markets reissued a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, Barclays boosted their target price on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. 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 presently has a consensus rating of “Hold” and a consensus target price of $181.00.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the company’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the 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 transaction, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Price Performance

NYSE RJF opened at $174.92 on Wednesday. Raymond James Financial, Inc. has a fifty-two week low of $138.82 and a fifty-two week high of $182.73. The stock’s 50-day moving average is $169.03 and its two-hundred day moving average is $157.87. The firm has a market cap of $33.65 billion, a P/E ratio of 15.25, a price-to-earnings-growth 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.

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 (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.23. The company 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 firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 EPS. On average, analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Raymond James Financial Company 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.