Elevation Point Wealth Partners LLC Acquires New Shares in Raymond James Financial, Inc. $RJF

Key Points

• Elevation Point Wealth Partners acquired 18,271 shares of Raymond James Financial in the second quarter, valued at approximately $2.78 million. Institutional investors and hedge funds collectively own 83.83% of the company.
• Raymond James Financial exceeded quarterly expectations, reporting $3.14 in EPS versus the $2.91 consensus estimate and $3.93 billion in revenue, up 15.6% year over year.
• Analyst sentiment remains mixed, with five Buy ratings and eight Holds producing a consensus Hold rating and an average price target of $181. Recent insider transactions included sales by two executives totaling 15,770 shares.

Elevation Point Wealth Partners LLC acquired a new position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,271 shares of the financial services provider's stock, valued at approximately $2,778,000.

Several other hedge funds have also recently bought and sold shares of the business. Great Valley Advisor Group Inc. lifted its position in shares of Raymond James Financial by 1.5% in the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock worth $625,000 after buying an additional 61 shares during the last quarter. Collective Family Office LLC increased its holdings in shares of Raymond James Financial by 3.0% during the 2nd quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider's stock valued at $323,000 after acquiring an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Raymond James Financial by 10.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider's stock valued at $116,000 after acquiring an additional 71 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of 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 valued at $297,000 after acquiring an additional 71 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings 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 purchasing an additional 72 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Raney sold 5,770 shares of the business'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 completion of the transaction, the insider directly owned 43,046 shares of the company's stock, valued at approximately $7,445,666.62. This represents a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.58% of the company's stock.

Raymond James Financial Stock Performance

RJF opened at $175.37 on Monday. The stock's 50 day simple moving average is $168.25 and its 200-day simple moving average is $157.75. The stock has a market cap of $33.73 billion, a PE ratio of 15.29, a P/E/G ratio of 1.07 and a beta of 0.92. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $182.73. The company has a current ratio of 1.06, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.Raymond James Financial's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 EPS. Sell-side analysts forecast that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RJF shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a research report on Monday, August 17th. TD Cowen dropped their price target on shares of Raymond James Financial from $162.00 to $161.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. Morgan Stanley upped their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an "equal weight" rating in a report on Friday, July 10th. Citigroup reiterated a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. Finally, UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the stock a "neutral" rating in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $181.00.

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.

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