Mount Yale Investment Advisors LLC Sells 664 Shares of Raymond James (NYSE:RJF)

Mount Yale Investment Advisors LLC trimmed its position in Raymond James (NYSE:RJF) by 2.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,903 shares of the financial services provider’s stock after selling 664 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Raymond James were worth $3,573,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in shares of Raymond James by 31.0% in the 2nd quarter. ProShare Advisors LLC now owns 52,606 shares of the financial services provider’s stock worth $6,503,000 after purchasing an additional 12,435 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of Raymond James by 2.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 66,893 shares of the financial services provider’s stock worth $8,269,000 after purchasing an additional 1,585 shares during the last quarter. Sei Investments Co. boosted its position in shares of Raymond James by 6.2% in the 2nd quarter. Sei Investments Co. now owns 902,501 shares of the financial services provider’s stock worth $111,558,000 after purchasing an additional 52,587 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Raymond James by 4.4% in the 2nd quarter. Pacer Advisors Inc. now owns 13,499 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 569 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Raymond James by 1.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 38,460 shares of the financial services provider’s stock worth $4,754,000 after purchasing an additional 500 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RJF has been the topic of several recent research reports. Jefferies Financial Group raised their price target on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Wells Fargo & Company assumed 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 target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, UBS Group reduced their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average price target of $130.70.

Raymond James Stock Performance

RJF opened at $124.31 on Friday. The business’s 50-day moving average price is $115.40 and its two-hundred day moving average price is $120.34. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a market capitalization of $25.60 billion, a price-to-earnings 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 current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the business posted $1.85 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts expect that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

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

Insider Activity at Raymond James

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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 in the company, valued at approximately $8,692,390. 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.