Raymond James (NYSE:RJF) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its holdings in Raymond James (NYSE:RJF) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,507 shares of the financial services provider’s stock after purchasing an additional 502 shares during the quarter. Wealthspire Advisors LLC’s holdings in Raymond James were worth $804,000 as of its most recent filing with the SEC.

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

Raymond James Stock Performance

RJF opened at $117.89 on Monday. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The stock has a market cap of $24.28 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.79 and a beta of 1.02. The stock’s 50 day simple moving average is $115.16 and its 200 day simple moving average is $120.29. 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 posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. Raymond James’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, October 1st. Raymond James’s payout ratio is currently 21.77%.

Analyst Ratings Changes

RJF has been the topic of several recent research reports. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on shares of Raymond James in a research report on Thursday. They issued an “overweight” rating and a $138.00 price objective for the company. TD Cowen boosted their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, Jefferies Financial Group increased their target price 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $130.70.

Insider Buying and Selling at Raymond James

In other 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 transaction 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 approximately $8,692,390. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were 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 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 is available at the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

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.