Mutual of America Capital Management LLC Has $4 Million Stock Holdings in Raymond James (NYSE:RJF)

Mutual of America Capital Management LLC trimmed its position in Raymond James (NYSE:RJF) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,367 shares of the financial services provider’s stock after selling 1,139 shares during the period. Mutual of America Capital Management LLC’s holdings in Raymond James were worth $4,001,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Smithfield Trust Co raised its position in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares during the period. Covestor Ltd increased its stake in Raymond James by 77.0% during the 1st 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. OLD Point Trust & Financial Services N A bought a new stake in Raymond James during the 4th quarter worth approximately $33,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 1st quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC increased its stake in Raymond James by 46.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 137 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, 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 SEC, which is available at this link. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s 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 completion of 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 is available at the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction 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 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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. 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. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Wells Fargo & Company started coverage on Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price for the company. Finally, TD Cowen raised 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. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $130.70.

Raymond James Trading Up 0.2 %

NYSE RJF opened at $124.31 on Monday. The company has a market cap of $25.60 billion, a PE ratio of 15.03, a PEG ratio of 0.81 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 12 month low of $91.67 and a 12 month high of $131.19. The stock has a 50 day moving average of $115.40 and a 200-day moving average of $120.33.

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, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion during 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%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. On average, equities research analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James’s 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.