Oxford Financial Group LTD. LLC Purchases Shares of 7,213 Raymond James Financial, Inc. $RJF

Key Points

• Oxford Financial Group acquired 7,213 Raymond James Financial shares worth approximately $1.1 million in the second quarter. Institutional investors own 83.83% of the company, with BlackRock also initiating a sizable position.
• Raymond James Financial reported quarterly EPS of $3.14, beating estimates of $2.91, while revenue rose 15.6% year over year to $3.93 billion.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy and eight rate it a Hold, producing an overall “Hold” consensus and an average price target of $181, versus a recent price of $172.21.

Oxford Financial Group LTD. LLC acquired a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,213 shares of the financial services provider's stock, valued at approximately $1,097,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Raymond James Financial during the second quarter worth approximately $2,180,699,000. First Trust Advisors LP raised its position in shares of Raymond James Financial by 18.3% in the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider's stock worth $493,332,000 after buying an additional 474,477 shares during the period. Victory Capital Management Inc. boosted its holdings in Raymond James Financial by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider's stock valued at $447,381,000 after acquiring an additional 21,856 shares during the last quarter. Bank of America Corp DE boosted its holdings in Raymond James Financial by 9.9% in the first quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider's stock valued at $354,701,000 after acquiring an additional 220,227 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider's stock valued at $347,390,000 after acquiring an additional 41,413 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the firm'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 transaction, the insider directly owned 43,046 shares in the company, valued at $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. 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 firm'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 transaction, the insider directly owned 45,114 shares of the company's stock, valued at $7,942,770.84. This represents a 18.14% 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 corporate insiders.

Raymond James Financial Price Performance

NYSE RJF opened at $172.21 on Friday. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week 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. The stock has a market cap of $33.13 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The company has a 50-day moving average price of $167.82 and a two-hundred day moving average price of $157.70.

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

Analyst Ratings Changes

A number of research firms recently issued reports on RJF. 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. UBS Group set a $184.00 target price on Raymond James Financial and gave the stock a "neutral" rating in a research report on Monday, July 27th. BMO Capital Markets reaffirmed 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a research report on Monday. Finally, Morgan Stanley lifted their price target on Raymond James Financial from $172.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Raymond James Financial currently has an average rating of "Hold" and a consensus 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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