First Eagle Investment Management LLC Boosts Holdings in Raymond James (NYSE:RJF)

First Eagle Investment Management LLC lifted its stake in Raymond James (NYSE:RJF) by 47.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,807 shares of the financial services provider’s stock after purchasing an additional 1,557 shares during the period. First Eagle Investment Management LLC’s holdings in Raymond James were worth $594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. PNC Financial Services Group Inc. lifted its position in shares of Raymond James by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,181 shares of the financial services provider’s stock worth $2,696,000 after purchasing an additional 211 shares during the period. UBS Group AG lifted its position in shares of Raymond James by 28.4% in the 4th quarter. UBS Group AG now owns 321,955 shares of the financial services provider’s stock worth $35,898,000 after purchasing an additional 71,305 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Raymond James by 65.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,465 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 1,376 shares during the period. Trexquant Investment LP purchased a new stake in shares of Raymond James in the 4th quarter worth about $1,562,000. Finally, Assetmark Inc. lifted its position in shares of Raymond James by 12.2% in the 4th quarter. Assetmark Inc. now owns 20,828 shares of the financial services provider’s stock worth $2,322,000 after purchasing an additional 2,260 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Up 0.2 %

NYSE:RJF opened at $124.31 on Friday. The firm has a market cap 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. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The firm has a 50-day simple moving average of $115.40 and a two-hundred day simple moving average of $120.34.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the business posted $1.85 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. 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. 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 Analyst Weigh In

RJF has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price target 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. TD Cowen lifted their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report 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 for the company in a research report on Thursday, July 25th. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, UBS Group lowered their price target 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.70.

Insider Transactions at Raymond James

In other 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 directly owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’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 directly owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’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 transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

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.