Meeder Advisory Services Inc. Makes New Investment in Raymond James (NYSE:RJF)

Meeder Advisory Services Inc. purchased a new stake in Raymond James (NYSE:RJF) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,695 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other institutional investors have also modified their holdings of RJF. Norges Bank acquired a new position in Raymond James in the fourth quarter valued at approximately $238,830,000. Heritage Wealth Advisors grew its stake in Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after buying an additional 474,622 shares during the last quarter. AGF Management Ltd. grew its stake in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after buying an additional 378,033 shares during the last quarter. SG Americas Securities LLC increased its position in Raymond James by 820.2% in the first quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after buying an additional 176,210 shares during the period. Finally, Sei Investments Co. lifted its stake in Raymond James by 27.4% in the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after buying an additional 174,286 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity

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 stock was 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 in the company, valued at approximately $3,879,063.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’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 value of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction 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 sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Raymond James Stock Performance

NYSE:RJF opened at $119.77 on Tuesday. The company has a 50-day moving average of $115.20 and a 200-day moving average of $120.29. The firm has a market cap of $24.67 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 earnings per share. Analysts forecast that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.50%. Raymond James’s dividend payout ratio is currently 21.77%.

Analyst Ratings Changes

A number of research firms recently weighed in on RJF. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. UBS Group cut 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. Wells Fargo & Company began coverage on Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, TD Cowen boosted their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.70.

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.