King Luther Capital Management Corp Reduces Position in Raymond James (NYSE:RJF)

King Luther Capital Management Corp reduced its holdings in Raymond James (NYSE:RJF) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,611 shares of the financial services provider’s stock after selling 187 shares during the period. King Luther Capital Management Corp’s holdings in Raymond James were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heritage Wealth Advisors lifted its position in Raymond James by 3,480.7% during the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after buying an additional 474,622 shares in the last quarter. AGF Management Ltd. increased its stake 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 acquiring an additional 378,033 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 acquiring an additional 176,210 shares during the period. Sei Investments Co. boosted its position in shares of Raymond James by 27.4% during the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after acquiring an additional 174,286 shares during the last quarter. Finally, Avity Investment Management Inc. purchased 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 and hedge funds.

Wall Street Analyst Weigh In

RJF has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of 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 reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Jefferies Financial Group increased their price objective on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wells Fargo & Company began coverage on Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 target price on the stock. Finally, TD Cowen increased their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Raymond James currently has an average rating of “Hold” and a consensus target price of $130.70.

Insider Buying and Selling at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated 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 transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $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 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 transaction 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 disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Raymond James Price Performance

RJF stock opened at $124.31 on Monday. The business’s fifty day moving average price is $115.40 and its 200 day moving average price is $120.33. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. 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 company has a market capitalization of $25.60 billion, a PE 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 (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 company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter 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 year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.45%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Raymond James Company 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.