National Bank of Canada FI Acquires 9,718 Shares of Raymond James (NYSE:RJF)

National Bank of Canada FI raised its holdings in shares of Raymond James (NYSE:RJF) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,603 shares of the financial services provider’s stock after purchasing an additional 9,718 shares during the quarter. National Bank of Canada FI’s holdings in Raymond James were worth $6,727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Private Advisor Group LLC grew its position in Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its position in shares of Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares during the last quarter. Oarsman Capital Inc. raised its holdings in Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after buying an additional 99 shares during the period. Covestor Ltd lifted its position in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Raymond James by 0.3% during the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock worth $5,332,000 after buying an additional 107 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on 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 transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RJF has been the topic of several recent analyst reports. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research note 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. TD Cowen boosted their target price on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group reduced their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, 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 note on Monday, July 8th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $129.89.

Raymond James Price Performance

Shares of RJF stock opened at $116.85 on Tuesday. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $115.48 and a two-hundred day simple moving average of $120.36. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 0.78 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $1.85 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is 21.77%.

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.