Raymond James (NYSE:RJF) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Raymond James (NYSE:RJF) by 3.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,621 shares of the financial services provider’s stock after selling 1,485 shares during the quarter. Amalgamated Bank’s holdings in Raymond James were worth $4,485,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RJF. Concurrent Investment Advisors LLC lifted its stake in shares of Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 2,328 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Raymond James by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after acquiring an additional 11,427 shares during the period. Bessemer Group Inc. grew its position in Raymond James by 1,138.5% in the first quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock valued at $2,445,000 after acquiring an additional 17,499 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Raymond James by 44.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock valued at $2,260,000 after purchasing an additional 5,427 shares during the period. Finally, Atria Investments Inc lifted its position in shares of Raymond James by 37.3% during the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after purchasing an additional 8,507 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction dated 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 sale, the chief executive officer now directly 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. JMP Securities upped their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Finally, 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 note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $140.91.

Raymond James Trading Up 1.5 %

NYSE RJF opened at $158.73 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a one year low of $98.72 and a one year high of $161.76. The company has a 50-day simple moving average of $130.92 and a 200-day simple moving average of $123.22. The firm has a market capitalization of $32.69 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 earnings per share. On average, equities analysts forecast that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Tuesday, October 1st. Raymond James’s payout ratio 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.