Raymond James (NYSE:RJF) Position Cut by Tredje AP fonden

Tredje AP fonden lowered its position in shares of Raymond James (NYSE:RJF) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,342 shares of the financial services provider’s stock after selling 490 shares during the period. Tredje AP fonden’s holdings in Raymond James were worth $3,874,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Private Advisor Group LLC grew its position in Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC raised its stake in 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 acquiring an additional 96 shares in the last quarter. Oarsman Capital Inc. boosted its position 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 worth $1,200,000 after acquiring an additional 99 shares during the period. Covestor Ltd grew its stake in shares of 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 purchasing an additional 104 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of 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 valued at $5,332,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’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 owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RJF shares. Wells Fargo & Company assumed coverage on shares of Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective for the company. TD Cowen upped their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. UBS Group cut their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group increased their price target on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $130.70.

Raymond James Price Performance

NYSE RJF opened at $121.12 on Thursday. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The business’s fifty day moving average is $115.24 and its two-hundred day moving average is $120.29. The stock has a market capitalization of $25.11 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last announced its earnings results 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. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. Raymond James’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 earnings per share. On average, research analysts forecast that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

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.