Dana Investment Advisors Inc. Sells 777 Shares of Raymond James (NYSE:RJF)

Dana Investment Advisors Inc. lessened its stake in Raymond James (NYSE:RJF) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,521 shares of the financial services provider’s stock after selling 777 shares during the period. Dana Investment Advisors Inc.’s holdings in Raymond James were worth $3,773,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Raymond James in the second quarter worth $29,000. Smithfield Trust Co boosted its holdings in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Covestor Ltd increased its position in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Raymond James during the 4th quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Raymond James in the 1st quarter worth approximately $33,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group reduced their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. TD Cowen lifted their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. The Goldman Sachs Group cut their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Finally, Jefferies Financial Group lifted their price objective on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $131.60.

Raymond James Stock Performance

Raymond James stock opened at $123.00 on Wednesday. The firm has a market cap of $25.33 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.83 and a beta of 1.02. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The firm has a 50-day moving average of $116.90 and a 200-day moving average of $120.51. 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 (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the business posted $1.85 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James 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 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 accessible through this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’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 completion of the transaction, 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 legal filing 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 dated 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 completion of the sale, the chief executive officer now directly 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 owned by 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.