Caprock Group LLC Purchases New Holdings in Raymond James (NYSE:RJF)

Caprock Group LLC acquired a new position in Raymond James (NYSE:RJF) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,892 shares of the financial services provider’s stock, valued at approximately $728,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Covestor Ltd boosted its stake in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Smithfield Trust Co grew its holdings in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James during the first quarter valued at approximately $33,000. OLD Point Trust & Financial Services N A purchased a new position in Raymond James in the 4th quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC lifted its position in Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred 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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the 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 directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction 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 transaction, 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. Company insiders own 9.74% of the company’s stock.

Raymond James Trading Down 0.3 %

Shares of RJF stock opened at $115.95 on Thursday. 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 cap of $23.88 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.78 and a beta of 1.02. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The firm has a fifty day moving average price of $115.26 and a 200-day moving average price of $120.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the company posted $1.85 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued 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 yield of 1.55%. Raymond James’s dividend payout ratio is presently 21.77%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RJF. UBS Group reduced 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. JPMorgan Chase & Co. decreased their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Jefferies Financial Group raised their price target on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. TD Cowen increased their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $129.89.

Raymond James Company 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.