Cullen Capital Management LLC Purchases New Stake in Raymond James Financial, Inc. $RJF

Cullen Capital Management LLC acquired a new position in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,866 shares of the financial services provider’s stock, valued at approximately $2,564,000.

Other large investors also recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in Raymond James Financial in the 4th quarter valued at $28,000. Hilton Head Capital Partners LLC purchased a new position in Raymond James Financial in the fourth quarter valued at about $35,000. Steigerwald Gordon & Koch Inc. lifted its stake in shares of 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 worth $37,000 after purchasing an additional 228 shares in the last quarter. Clearstead Trust LLC acquired a new position in shares of Raymond James Financial during the second quarter worth about $40,000. Finally, DV Equities LLC purchased a new stake in shares of Raymond James Financial in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RJF shares. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday, July 23rd. TD Cowen decreased their price target on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Barclays increased their price objective on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a research note on Monday, August 17th. Finally, UBS Group set a $184.00 target price on shares of Raymond James Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $181.00.

Raymond James Financial Stock Up 0.8%

Shares of NYSE RJF opened at $176.66 on Tuesday. Raymond James Financial, Inc. has a 1 year low of $138.82 and a 1 year high of $182.73. The firm has a market cap of $33.98 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.07 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. The stock’s 50-day simple moving average is $168.69 and its 200-day simple moving average is $157.83.

Raymond James Financial (NYSE:RJF) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 earnings per share. As a group, equities analysts anticipate that Raymond James Financial, Inc. will post 12.07 earnings per share for the current fiscal year.

Insider Activity at Raymond James Financial

In other Raymond James Financial news, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $172.97, for a total value of $998,036.90. Following the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at $7,445,666.62. This represents a 11.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the 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 transaction, the insider owned 45,114 shares of the company’s stock, valued at approximately $7,942,770.84. This trade represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.58% of the stock is owned by insiders.

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.