Hedge Funds Are Buying Raymond James Financial, Inc. (RJF)

Consequently, specific money managers have jumped into Raymond James Financial, Inc. (NYSE:RJF) headfirst. Tudor Investment Corp, led by Paul Tudor Jones, assembled the most valuable position in Raymond James Financial, Inc. (NYSE:RJF). According to regulatory filings, the fund had $16.7 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $4.7 million position during the quarter. The other funds with new positions in the stock are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Ken Griffin’s Citadel Investment Group, and Glenn Russell Dubin’s Highbridge Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Raymond James Financial, Inc. (NYSE:RJF) but similarly valued. These stocks are Kohl’s Corporation (NYSE:KSS), Oaktree Capital Group LLC (NYSE:OAK), NVR, Inc. (NYSE:NVR), and Apartment Investment and Management Co. (NYSE:AIV). This group of stocks’ market caps are similar to RJF’s market cap.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $324 million. That figure was $329 million in RJF’s case. Kohl’s Corporation (NYSE:KSS) is the most popular stock in this table. On the other hand Oaktree Capital Group LLC (NYSE:OAK) is the least popular one with only 16 bullish hedge fund positions. Raymond James Financial, Inc. (NYSE:RJF) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard KSS might be a better candidate to consider taking a long position in.

Disclosure: none.