American Century Companies Inc. Acquires 2,531 Shares of Raymond James (NYSE:RJF)

American Century Companies Inc. grew its holdings in Raymond James (NYSE:RJF) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,003 shares of the financial services provider’s stock after purchasing an additional 2,531 shares during the period. American Century Companies Inc. owned about 0.06% of Raymond James worth $14,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Heritage Wealth Advisors grew its stake in Raymond James by 3,480.7% in the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after purchasing an additional 474,622 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after buying an additional 378,033 shares during the period. SG Americas Securities LLC grew its position in shares of Raymond James by 820.2% during the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after buying an additional 176,210 shares in the last quarter. Sei Investments Co. increased its stake in shares of Raymond James by 27.4% during the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after buying an additional 174,286 shares during the period. Finally, Avity Investment Management Inc. bought a new stake in shares of Raymond James in the first quarter valued at about $18,548,000. 83.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RJF. Jefferies Financial Group raised their target price on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Wells Fargo & Company initiated coverage on shares of Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price objective on the stock. TD Cowen upped their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, UBS Group decreased their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $130.70.

Insider Transactions at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’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 transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred 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 owns 35,380 shares in the company, valued at $3,879,063.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the 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 transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Trading Up 0.2 %

Shares of NYSE:RJF opened at $124.31 on Friday. The business’s 50-day moving average is $115.40 and its 200 day moving average is $120.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The firm has a market capitalization of $25.60 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.81 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion for 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 company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, research analysts predict that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued 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 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.