1,626 Shares in Raymond James (NYSE:RJF) Acquired by DRW Securities LLC

DRW Securities LLC purchased a new position in shares of Raymond James (NYSE:RJF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,626 shares of the financial services provider’s stock, valued at approximately $200,000.

Other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd increased its position in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the period. Smithfield Trust Co increased its position in Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after buying an additional 126 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Raymond James during the first quarter worth approximately $33,000. OLD Point Trust & Financial Services N A acquired a new position in Raymond James during the fourth quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC increased its position in Raymond James by 46.9% during the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Down 0.4 %

Shares of RJF stock opened at $124.16 on Wednesday. The business’s fifty day moving average price is $115.69 and its 200 day moving average price is $120.39. 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 $25.57 billion, a PE ratio of 15.01, a P/E/G ratio of 0.85 and a beta of 1.02. 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 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 the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. Raymond James’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. As a group, sell-side analysts forecast that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Announces Dividend

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 given a dividend of $0.45 per share. 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 1.45%. Raymond James’s payout ratio is 21.77%.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on RJF shares. Jefferies Financial Group boosted their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. TD Cowen boosted their target price on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. JPMorgan Chase & Co. dropped their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Wells Fargo & Company started coverage on Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.