Amalgamated Bank Sells 855 Shares of Raymond James (NYSE:RJF)

Amalgamated Bank decreased its holdings in shares of Raymond James (NYSE:RJF) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,106 shares of the financial services provider’s stock after selling 855 shares during the period. Amalgamated Bank’s holdings in Raymond James were worth $4,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC lifted its position in shares of Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC boosted its position in Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after acquiring an additional 96 shares in the last quarter. Oarsman Capital Inc. boosted its position in Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after acquiring an additional 99 shares in the last quarter. Covestor Ltd raised its position in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Raymond James by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock valued at $5,332,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

RJF stock opened at $124.31 on Friday. The stock’s 50 day simple moving average is $115.40 and its 200 day simple moving average is $120.34. 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 has a 12-month low of $91.67 and a 12-month high of $131.19. The stock has a market capitalization of $25.60 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the company posted $1.85 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RJF. JPMorgan Chase & Co. reduced their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. TD Cowen boosted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Wells Fargo & Company initiated coverage on shares of Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective on the stock. Finally, UBS Group lowered their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $130.70.

Insider Activity

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 completion of the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $3,429,210.28. Following the sale, the chief executive officer now 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. 9.74% of the stock is owned by corporate insiders.

About Raymond James

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.