Raymond James (NYSE:RJF) Shares Sold by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP decreased its position in shares of Raymond James (NYSE:RJF) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,341 shares of the financial services provider’s stock after selling 111 shares during the period. DoubleLine ETF Adviser LP’s holdings in Raymond James were worth $413,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in shares of Raymond James by 77.0% in the first 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. Smithfield Trust Co boosted its stake in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James during the first quarter worth approximately $33,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Raymond James in the fourth quarter worth $33,000. Finally, FinTrust Capital Advisors LLC boosted its stake in Raymond James by 46.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 137 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $122.46 on Friday. The business has a 50 day simple moving average of $116.15 and a 200 day simple moving average of $120.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a market capitalization of $25.22 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The company 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 quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.85 earnings per share. On average, equities research analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 target price for the company. Jefferies Financial Group upped their price objective on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. The Goldman Sachs Group decreased their target price on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday. TD Cowen upped their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. 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 research note on Tuesday, July 9th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Raymond James currently has an average rating of “Hold” and a consensus target price of $131.60.

Insider Activity at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred 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 directly owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 directly owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

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.