MQS Management LLC Buys New Holdings in Raymond James (NYSE:RJF)

MQS Management LLC purchased a new position in Raymond James (NYSE:RJF) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,929 shares of the financial services provider’s stock, valued at approximately $362,000.

A number of other institutional investors also recently bought and sold shares of RJF. Smithfield Trust Co increased its stake in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares during the period. Covestor Ltd boosted its holdings in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James during the 4th quarter worth about $33,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James during the 1st quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after buying an additional 137 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Raymond James Trading Up 2.5 %

RJF stock opened at $124.11 on Friday. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The business’s 50-day moving average is $115.27 and its 200 day moving average is $120.30. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a market cap of $25.56 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.81 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the business posted $1.85 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.45 per share. 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 payout ratio is 21.77%.

Analysts Set New Price Targets

Several research firms recently commented on RJF. Wells Fargo & Company started coverage on Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. 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. Finally, Jefferies Financial Group raised their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Ten 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 presently has an average rating of “Hold” and a consensus target price of $130.70.

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.