TD Asset Management Inc Increases Stock Position in Raymond James (NYSE:RJF)

TD Asset Management Inc boosted its stake in Raymond James (NYSE:RJF) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 384,327 shares of the financial services provider’s stock after purchasing an additional 18,356 shares during the quarter. TD Asset Management Inc’s holdings in Raymond James were worth $47,507,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Stablepoint Partners LLC raised its position in shares of Raymond James by 5.4% during the 2nd quarter. Stablepoint Partners LLC now owns 14,237 shares of the financial services provider’s stock valued at $1,644,000 after buying an additional 727 shares in the last quarter. Fiera Capital Corp raised its position in shares of Raymond James by 3.8% during the 2nd quarter. Fiera Capital Corp now owns 456,281 shares of the financial services provider’s stock valued at $56,401,000 after buying an additional 16,670 shares in the last quarter. New England Professional Planning Group Inc. raised its position in Raymond James by 0.4% in the 2nd quarter. New England Professional Planning Group Inc. now owns 42,800 shares of the financial services provider’s stock worth $5,290,000 after purchasing an additional 156 shares during the period. Commonwealth Equity Services LLC raised its position in Raymond James by 1.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 52,087 shares of the financial services provider’s stock worth $6,439,000 after purchasing an additional 990 shares during the period. Finally, J. W. Coons Advisors LLC purchased a new stake in Raymond James in the 2nd quarter worth about $231,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RJF shares. TD Cowen increased 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. Jefferies Financial Group increased their price objective on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. reduced their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, UBS Group reduced their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.89.

Insider Activity

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction that occurred on 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 $8,692,390. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction that occurred on 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 $8,692,390. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Price Performance

Shares of RJF stock opened at $115.20 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market capitalization of $23.88 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.81 and a beta of 1.02. The company’s 50-day simple moving average is $115.60 and its two-hundred day simple moving average is $120.32. Raymond James has a one year low of $91.67 and a one year high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (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 firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm earned $1.85 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James will post 9.57 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.56%. Raymond James’s dividend payout ratio is presently 21.77%.

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.