50,606 Shares in Raymond James Financial, Inc. $RJF Bought by Korea Investment CORP

Key Points

• Korea Investment Corp. bought 50,606 shares of Raymond James Financial during the second quarter, representing an investment of approximately $7.7 million. Institutional investors collectively own 83.83% of the company.
• Raymond James Financial reported quarterly earnings of $3.14 per share, beating the $2.91 consensus estimate, while revenue rose 15.6% year over year to $3.93 billion.
• Analyst sentiment remains mixed, with five Buy and eight Hold ratings and an average price target of $181. The stock opened at $176.66 and has traded between $138.82 and $182.73 over the past year.

Korea Investment CORP bought a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,606 shares of the financial services provider's stock, valued at approximately $7,694,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in shares of Raymond James Financial in the 4th quarter valued at about $28,000. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial during the 4th quarter worth approximately $35,000. Steigerwald Gordon & Koch Inc. grew its holdings in 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 valued at $37,000 after purchasing an additional 228 shares during the period. Clearstead Trust LLC bought a new stake in Raymond James Financial in the second quarter valued at approximately $40,000. Finally, DV Equities LLC bought a new stake in Raymond James Financial in the fourth quarter valued at approximately $40,000. Institutional investors own 83.83% of the company's stock.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, 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 transaction of $998,036.90. Following the sale, the insider directly owned 43,046 shares of the company's stock, valued at $7,445,666.62. The trade was a 11.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RJF shares. Citizens Jmp lifted their price target on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 23rd. Weiss Ratings restated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Monday, August 17th. Barclays raised their price objective on Raymond James Financial from $192.00 to $196.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Morgan Stanley lifted their target price on Raymond James Financial from $172.00 to $174.00 and gave the stock an "equal weight" rating in a report on Friday, July 10th. Finally, TD Cowen decreased their target price on Raymond James Financial from $162.00 to $161.00 and set a "hold" rating for the company 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 company. Based on data from MarketBeat.com, Raymond James Financial currently has an average rating of "Hold" and an average target price of $181.00.

Raymond James Financial Trading Up 0.8%

NYSE:RJF opened at $176.66 on Tuesday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. 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 moving average price of $168.69 and a two-hundred day moving average price of $157.83. The company has a market cap of $33.98 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.07 and a beta of 0.92.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share 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 analysts' expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.07%. The business's quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $2.18 EPS. As a group, analysts expect that Raymond James Financial, Inc. will post 12.07 EPS 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.

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James Financial, Inc. (NYSE:RJF - Free Report).

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