Private Advisor Group LLC Reduces Holdings in Raymond James (NYSE:RJF)

Private Advisor Group LLC trimmed its holdings in shares of Raymond James (NYSE:RJF) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,577 shares of the financial services provider’s stock after selling 425 shares during the quarter. Private Advisor Group LLC’s holdings in Raymond James were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. Concurrent Investment Advisors LLC grew its holdings in Raymond James by 36.9% in the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 2,328 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Raymond James by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after purchasing an additional 11,427 shares in the last quarter. Bessemer Group Inc. grew its position in Raymond James by 1,138.5% during the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after purchasing an additional 17,499 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Raymond James by 44.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock valued at $2,260,000 after purchasing an additional 5,427 shares in the last quarter. Finally, Atria Investments Inc raised its holdings in shares of Raymond James by 37.3% in the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after buying an additional 8,507 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

RJF opened at $160.79 on Thursday. The firm has a fifty day moving average price of $128.52 and a 200 day moving average price of $122.49. Raymond James has a 1 year low of $98.72 and a 1 year high of $161.76. The stock has a market cap of $33.11 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.73 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 earnings per share. Equities research analysts anticipate that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research analyst reports. TD Cowen boosted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $140.91.

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.