Bank of Montreal Can Boosts Stock Holdings in Raymond James (NYSE:RJF)

Bank of Montreal Can raised its holdings in Raymond James (NYSE:RJF) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,811 shares of the financial services provider’s stock after purchasing an additional 3,339 shares during the quarter. Bank of Montreal Can owned 0.13% of Raymond James worth $32,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in shares of Raymond James by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 22,359 shares of the financial services provider’s stock valued at $2,493,000 after buying an additional 157 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Raymond James in the 4th quarter valued at about $176,000. Hsbc Holdings PLC lifted its stake in shares of Raymond James by 25.4% in the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after purchasing an additional 89,981 shares during the period. TD Asset Management Inc boosted its holdings in Raymond James by 1.5% during the fourth quarter. TD Asset Management Inc now owns 325,016 shares of the financial services provider’s stock worth $36,239,000 after buying an additional 4,776 shares in the last quarter. Finally, Stifel Financial Corp grew its position in Raymond James by 6.4% during the fourth quarter. Stifel Financial Corp now owns 70,494 shares of the financial services provider’s stock worth $7,861,000 after buying an additional 4,251 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $122.46 on Friday. The stock has a market capitalization of $25.22 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The stock’s fifty day simple moving average is $116.15 and its 200-day simple moving average is $120.44. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company posted $1.85 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.47%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the 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 transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’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 completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RJF shares. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research 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 for the company in a research note on Tuesday, July 9th. Wells Fargo & Company started coverage on shares of Raymond James in a research note on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective on the stock. The Goldman Sachs Group cut their target price on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group increased their price target on shares of Raymond James from $122.00 to $123.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.60.

About Raymond James

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.