Raymond James (NYSE:RJF) Shares Acquired by Seven Eight Capital LP

Seven Eight Capital LP increased its stake in Raymond James (NYSE:RJF) by 40.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,464 shares of the financial services provider’s stock after buying an additional 2,432 shares during the period. Seven Eight Capital LP’s holdings in Raymond James were worth $1,042,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RJF. Heritage Wealth Advisors lifted its position in shares of Raymond James by 3,480.7% during the first quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after purchasing an additional 474,622 shares during the last quarter. AGF Management Ltd. lifted its holdings 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 grew its position in shares of Raymond James by 820.2% in the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after acquiring an additional 176,210 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Raymond James by 27.4% in the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after acquiring an additional 174,286 shares during the last quarter. Finally, Avity Investment Management Inc. acquired a new stake in shares of Raymond James during the 1st quarter valued at approximately $18,548,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’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 transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James 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 transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated 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 sale, 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. Corporate insiders own 9.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on RJF. Wells Fargo & Company started 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 boosted 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. Jefferies Financial Group raised their target price on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th. UBS Group lowered 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. Finally, Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report 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’s stock. According to data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target of $130.70.

Raymond James Trading Up 0.2 %

Shares of RJF stock opened at $124.31 on Friday. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The firm has a market capitalization of $25.60 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. The stock has a fifty day moving average of $115.34 and a two-hundred day moving average of $120.32. 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 issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. As a group, research analysts expect that Raymond James will post 9.58 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 21.77%.

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.