Wedmont Private Capital Increases Stock Position in Raymond James (NYSE:RJF)

Wedmont Private Capital increased its stake in shares of Raymond James (NYSE:RJF) by 5.1% in the 3rd quarter, Holdings Channel reports. The firm owned 1,769 shares of the financial services provider’s stock after buying an additional 86 shares during the period. Wedmont Private Capital’s holdings in Raymond James were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Quarry LP purchased a new stake in Raymond James during the 2nd quarter valued at $29,000. Covestor Ltd boosted its position in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Smithfield Trust Co grew its stake in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the 1st quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC lifted its stake in shares of Raymond James by 46.9% in 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. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RJF shares. Jefferies Financial Group boosted their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group reduced 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, September 26th. Wells Fargo & Company lifted their target price on Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, UBS Group lowered their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Raymond James has an average rating of “Hold” and an average target price of $133.36.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’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 sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Raymond James Trading Up 2.5 %

Shares of RJF opened at $129.95 on Monday. The firm has a market cap of $26.76 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.88 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 has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a 50 day simple moving average of $118.82 and a two-hundred day simple moving average of $120.61.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. Raymond James’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.85 earnings per share. On average, equities analysts expect that Raymond James will post 9.57 earnings per share 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. Stockholders 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 annualized dividend and a dividend yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

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.