Raymond James (NYSE:RJF) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in shares of Raymond James (NYSE:RJF) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,342,069 shares of the financial services provider’s stock after selling 20,490 shares during the period. Truist Financial Corp owned 0.65% of Raymond James worth $165,893,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC grew its position in shares of Raymond James by 1.6% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares in the last quarter. Oarsman Capital Inc. increased its holdings in shares of Raymond James by 0.9% in the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after purchasing an additional 99 shares during the last quarter. Covestor Ltd lifted 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 in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Raymond James by 0.3% during the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock worth $5,332,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RJF shares. The Goldman Sachs Group cut their target price on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. TD Cowen lifted their target price 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. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. JPMorgan Chase & Co. reduced their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, Wells Fargo & Company started coverage on Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $131.60.

Insider Buying and Selling at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on 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 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. Insiders own 9.74% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $122.46 on Tuesday. The business’s fifty day moving average price is $116.68 and its 200 day moving average price is $120.49. 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 company has a market capitalization of $25.22 billion, a PE ratio of 14.81, a P/E/G ratio of 0.84 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. Raymond James’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. On average, sell-side analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.47%. Raymond James’s dividend payout ratio is currently 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.