OneDigital Investment Advisors LLC Makes New $6.04 Million Investment in Raymond James Financial, Inc. $RJF

Key Points

• OneDigital Investment Advisors purchased 39,704 shares of Raymond James Financial valued at approximately $6.04 million, while institutional investors collectively own 83.83% of the company.
• Raymond James reported quarterly EPS of $3.14, beating estimates of $2.91, while revenue rose 15.6% year over year to $3.93 billion. Analysts maintain a consensus “Hold” rating with an average price target of $181.
• The stock opened at $180.85, near its 52-week high of $182.73. Two company insiders recently sold shares totaling roughly $2.76 million, though insiders still own 0.58% of the stock.

OneDigital Investment Advisors LLC bought a new stake in Raymond James Financial, Inc. (NYSE:RJF - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,704 shares of the financial services provider's stock, valued at approximately $6,036,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RJF. Great Valley Advisor Group Inc. raised its holdings in shares of Raymond James Financial by 1.5% in the 2nd 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 lifted its stake in Raymond James Financial by 3.0% in the second quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider's stock valued at $323,000 after purchasing an additional 62 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in Raymond James Financial by 34.8% during the fourth quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 65 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Raymond James Financial by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider's stock valued at $116,000 after purchasing an additional 71 shares during the period. Finally, Parallel Advisors LLC increased its position in Raymond James Financial by 4.3% in the third 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 during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley boosted their target price on Raymond James Financial from $172.00 to $174.00 and gave the company an "equal weight" rating in a research note on Friday, July 10th. Citizens Jmp lifted their price objective on Raymond James Financial from $200.00 to $205.00 and gave the stock a "market outperform" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $175.00 to $179.00 and gave the company a "neutral" rating in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Barclays increased their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $181.00.

Raymond James Financial Stock Performance

NYSE:RJF opened at $180.85 on Monday. The business's fifty day moving average is $165.70 and its 200 day moving average is $157.43. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. 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 - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate of $2.91 by $0.23. The business 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. Research analysts predict that Raymond James Financial, Inc. will post 12.07 EPS for the current year.

Insider Transactions at Raymond James Financial

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.58% of the company's stock.

About Raymond James Financial

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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