Raymond James & Associates Has $37.05 Million Holdings in Raymond James (NYSE:RJF)

Raymond James & Associates lessened its position in shares of Raymond James (NYSE:RJF) by 0.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 302,509 shares of the financial services provider’s stock after selling 345 shares during the quarter. Raymond James & Associates owned approximately 0.15% of Raymond James worth $37,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wedmont Private Capital increased its position in Raymond James by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 86 shares during the period. Private Advisor Group LLC increased its position in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC increased its position in Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares during the period. Covestor Ltd increased its position in 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 period. Finally, Retirement Systems of Alabama boosted its holdings in shares of Raymond James by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock worth $5,332,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity

In other 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 sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RJF shares. JMP Securities upgraded Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price target on the stock in a report on Wednesday, October 9th. Wells Fargo & Company increased their price target on Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. 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. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Finally, The Goldman Sachs Group cut their price target on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average target price of $133.36.

Raymond James Trading Up 0.9 %

NYSE RJF opened at $137.36 on Thursday. The firm has a market capitalization of $28.29 billion, a P/E ratio of 15.48, a PEG ratio of 0.96 and a beta of 1.02. The business has a fifty day simple moving average of $122.56 and a 200 day simple moving average of $120.96. Raymond James has a 12 month low of $91.67 and a 12 month high of $139.40. 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 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion during 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%. Raymond James’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 EPS. On average, analysts predict that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is currently 20.29%.

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.