Sei Investments Co. Increases Stake in Raymond James (NYSE:RJF)

Sei Investments Co. raised its holdings in shares of Raymond James (NYSE:RJF) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 902,501 shares of the financial services provider’s stock after acquiring an additional 52,587 shares during the quarter. Sei Investments Co. owned approximately 0.44% of Raymond James worth $111,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RJF. Pacer Advisors Inc. lifted its position in Raymond James by 4.4% during the second quarter. Pacer Advisors Inc. now owns 13,499 shares of the financial services provider’s stock valued at $1,669,000 after purchasing an additional 569 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Raymond James by 1.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 38,460 shares of the financial services provider’s stock valued at $4,754,000 after buying an additional 500 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Raymond James by 12.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 127,120 shares of the financial services provider’s stock valued at $15,713,000 after acquiring an additional 14,166 shares during the period. Leuthold Group LLC purchased a new stake in Raymond James in the 2nd quarter worth approximately $364,000. Finally, MQS Management LLC bought a new stake in Raymond James during the 2nd quarter worth approximately $362,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company started coverage on Raymond James in a research note on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price target for the company. JPMorgan Chase & Co. lowered their price objective 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. Jefferies Financial Group increased their target price on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, TD Cowen boosted their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $130.70.

Raymond James Stock Up 0.2 %

NYSE RJF opened at $124.31 on Friday. The stock has a 50 day moving average price of $115.34 and a 200-day moving average price of $120.32. Raymond James has a one year low of $91.67 and a one year high of $131.19. The company has a market capitalization of $25.60 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.85 EPS. As a group, equities analysts predict that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.45%. Raymond James’s payout ratio is 21.77%.

Insider Activity

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 directly owns 35,380 shares in the company, valued at $3,879,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 document filed with the SEC, which is available at the SEC website. Also, 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 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 approximately $8,692,390. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

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.