Raymond James (NYSE:RJF) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in Raymond James (NYSE:RJF) by 4.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,499 shares of the financial services provider’s stock after buying an additional 569 shares during the quarter. Pacer Advisors Inc.’s holdings in Raymond James were worth $1,669,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RJF. Smithfield Trust Co grew its stake in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares in the last quarter. 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 valued at $31,000 after buying an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Raymond James in the fourth quarter valued at about $33,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James in the first quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC grew 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 valued at $55,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Down 2.1 %

Shares of NYSE RJF opened at $122.46 on Friday. The company has a market cap 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. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $116.15 and its 200 day simple moving average is $120.44.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The business 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%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.85 EPS. 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. Investors 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 1.47%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is 21.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RJF shares. Jefferies Financial Group raised their price objective on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. UBS Group lowered their price objective 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. TD Cowen raised their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating 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 price objective for the company. Finally, The Goldman Sachs Group lowered their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $131.60.

Insider Buying and Selling

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,692,390. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Raymond James 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

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.