B. Riley Wealth Advisors Inc. Raises Position in Raymond James (NYSE:RJF)

B. Riley Wealth Advisors Inc. boosted its position in shares of Raymond James (NYSE:RJF) by 35.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,384 shares of the financial services provider’s stock after buying an additional 1,687 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Raymond James were worth $789,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Heritage Wealth Advisors boosted its stake in shares of Raymond James by 3,480.7% in the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after acquiring an additional 474,622 shares during the last quarter. AGF Management Ltd. boosted its stake in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Raymond James by 820.2% during the first quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after buying an additional 176,210 shares in the last quarter. Sei Investments Co. raised its position in shares of Raymond James by 27.4% in the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after buying an additional 174,286 shares during the last quarter. Finally, Avity Investment Management Inc. purchased a new position in shares of Raymond James in the first quarter worth about $18,548,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on RJF shares. TD Cowen upped their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Wells Fargo & Company initiated coverage on Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price target for the company. JPMorgan Chase & Co. reduced 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 boosted their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday. Finally, UBS Group dropped their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $131.90.

Raymond James Stock Performance

Shares of Raymond James stock opened at $127.13 on Friday. The business’s fifty day simple moving average is $117.27 and its 200-day simple moving average is $120.56. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a market cap of $26.35 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.83 and a beta of 1.02. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last posted its 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. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. Raymond James’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

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 given 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 dividend yield of 1.42%. Raymond James’s payout ratio is currently 21.77%.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Raymond James 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 transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

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.