Dimensional Fund Advisors LP Has $250.24 Million Holdings in Raymond James (NYSE:RJF)

Dimensional Fund Advisors LP grew its position in Raymond James (NYSE:RJF) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,024,612 shares of the financial services provider’s stock after purchasing an additional 113,826 shares during the period. Dimensional Fund Advisors LP owned approximately 0.98% of Raymond James worth $250,238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RJF. Covestor Ltd boosted 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 worth $31,000 after acquiring an additional 104 shares during the last quarter. Smithfield Trust Co increased its stake in Raymond James by 105.0% in 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 Raymond James in the 1st quarter valued at $33,000. OLD Point Trust & Financial Services N A bought a new stake in Raymond James during the 4th quarter worth about $33,000. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Raymond James by 46.9% in 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 in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company began coverage on Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price on the stock. TD Cowen lifted their price objective 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. UBS Group dropped their price target on 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 reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $130.70.

Raymond James Stock Performance

Shares of RJF stock opened at $121.12 on Thursday. The company has a market capitalization of $25.11 billion, a P/E ratio of 14.65, a PEG ratio of 0.79 and a beta of 1.02. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a 50 day moving average price of $115.24 and a two-hundred day moving average price of $120.29.

Raymond James (NYSE:RJF) last posted 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 during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. Analysts expect that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.49%. Raymond James’s payout ratio is presently 21.77%.

Insider Activity at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the 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 owns 75,586 shares in the company, valued at approximately $8,692,390. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James 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 sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

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.