First Trust Direct Indexing L.P. Purchases 1,486 Shares of Raymond James (NYSE:RJF)

First Trust Direct Indexing L.P. increased its position in Raymond James (NYSE:RJF) by 32.7% during the 3rd quarter, Holdings Channel reports. The firm owned 6,033 shares of the financial services provider’s stock after acquiring an additional 1,486 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Raymond James were worth $739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RJF. Norden Group LLC grew its stake in Raymond James by 75.5% in the first quarter. Norden Group LLC now owns 4,439 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 1,909 shares in the last quarter. Retirement Systems of Alabama boosted its position in Raymond James by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock valued at $5,332,000 after acquiring an additional 107 shares in the last quarter. Private Advisor Group LLC boosted its position 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. Mirae Asset Global Investments Co. Ltd. boosted its position in Raymond James by 10.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,227 shares of the financial services provider’s stock valued at $3,496,000 after acquiring an additional 2,616 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Raymond James by 91.2% during the 1st quarter. BNP Paribas Financial Markets now owns 211,737 shares of the financial services provider’s stock valued at $27,191,000 after acquiring an additional 100,986 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RJF shares. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Bank of America increased their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $140.91.

Insider Buying and Selling

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 $3,879,063.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.74% of the stock is currently owned by company insiders.

Raymond James Stock Performance

Shares of RJF stock opened at $144.29 on Friday. The firm has a market capitalization of $29.72 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 0.75 and a beta of 0.98. 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 business has a fifty day moving average of $127.40 and a 200 day moving average of $122.16. Raymond James has a 1 year low of $97.05 and a 1 year high of $151.59.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $2.13 EPS. As a group, research analysts expect that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.25%. Raymond James’s dividend payout ratio (DPR) is 18.54%.

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.