HBK Sorce Advisory LLC Sells 195 Shares of Raymond James (NYSE:RJF)

HBK Sorce Advisory LLC trimmed its position in Raymond James (NYSE:RJF) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,735 shares of the financial services provider’s stock after selling 195 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Raymond James were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Meeder Advisory Services Inc. bought a new stake in Raymond James in the 2nd quarter worth approximately $210,000. DekaBank Deutsche Girozentrale raised its stake in Raymond James by 11.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 37,312 shares of the financial services provider’s stock valued at $4,519,000 after purchasing an additional 3,694 shares in the last quarter. BOKF NA lifted its position in Raymond James by 106.5% during the second quarter. BOKF NA now owns 54,425 shares of the financial services provider’s stock valued at $6,727,000 after purchasing an additional 28,063 shares during the last quarter. Achmea Investment Management B.V. grew its stake in shares of Raymond James by 67.6% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,506 shares of the financial services provider’s stock worth $1,299,000 after buying an additional 4,239 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Raymond James by 2.2% in the 2nd quarter. American Century Companies Inc. now owns 119,003 shares of the financial services provider’s stock worth $14,710,000 after buying an additional 2,531 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

Shares of RJF stock opened at $117.89 on Friday. The company has a market capitalization of $24.44 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.79 and a beta of 1.02. The company’s 50-day simple moving average is $115.16 and its two-hundred day simple moving average is $120.29. Raymond James has a one year low of $91.67 and a one year high of $131.19. 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 data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. Raymond James’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. As a group, equities analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.53%. Raymond James’s payout ratio is currently 21.77%.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a legal filing 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 the 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Analyst Ratings Changes

RJF has been the subject of several recent research reports. Wells Fargo & Company started coverage on Raymond James in a research report on Thursday. They issued an “overweight” rating and a $138.00 price target for the company. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. TD Cowen increased their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. UBS Group dropped their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group increased their target price on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.70.

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.