SG Americas Securities LLC Sells 56,832 Shares of Raymond James (NYSE:RJF)

SG Americas Securities LLC lowered its stake in Raymond James (NYSE:RJF) by 88.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,402 shares of the financial services provider’s stock after selling 56,832 shares during the period. SG Americas Securities LLC’s holdings in Raymond James were worth $906,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Raymond James in the 2nd quarter worth approximately $29,000. 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 valued at $31,000 after acquiring an additional 126 shares during the last quarter. Covestor Ltd raised 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 acquiring an additional 104 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the 1st quarter worth about $33,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of 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 during the period. 83.83% of the stock is owned by institutional investors.

Insider Activity at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred 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 directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’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 transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Raymond James Trading Up 2.5 %

Shares of NYSE RJF opened at $129.96 on Friday. The business has a fifty day moving average price of $118.82 and a 200 day moving average price of $120.69. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $26.76 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.89 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 EPS. Equities research analysts expect that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. UBS Group reduced their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. The Goldman Sachs Group dropped their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Wells Fargo & Company increased their target price on Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $133.36.

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.