Elo Mutual Pension Insurance Co Sells 878 Shares of Raymond James (NYSE:RJF)

Elo Mutual Pension Insurance Co trimmed its position in shares of Raymond James (NYSE:RJF) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,337 shares of the financial services provider’s stock after selling 878 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Raymond James were worth $2,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC boosted its position in Raymond James by 6.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 29,450 shares of the financial services provider’s stock worth $3,561,000 after buying an additional 1,856 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Raymond James by 9.1% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,111 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 260 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its holdings in shares of Raymond James by 4.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 43,067 shares of the financial services provider’s stock worth $5,324,000 after purchasing an additional 1,851 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Raymond James in the second quarter worth $4,086,000. Finally, Citizens Financial Group Inc. RI raised its position in Raymond James by 0.9% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 50,568 shares of the financial services provider’s stock worth $6,251,000 after purchasing an additional 456 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RJF has been the topic of a number of analyst reports. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Jefferies Financial Group upped their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price target for the company. TD Cowen boosted their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, UBS Group decreased their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $130.70.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Raymond James Trading Up 2.5 %

RJF opened at $124.11 on Friday. The company has a fifty day moving average price of $115.27 and a two-hundred day moving average price of $120.30. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a market cap of $25.56 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. Analysts predict that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Raymond James Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.