Royal London Asset Management Ltd. Lowers Stock Position in Raymond James (NYSE:RJF)

Royal London Asset Management Ltd. lessened its holdings in Raymond James (NYSE:RJF) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,326 shares of the financial services provider’s stock after selling 244 shares during the quarter. Royal London Asset Management Ltd. owned 0.06% of Raymond James worth $15,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in RJF. Norges Bank purchased a new stake in Raymond James in the 4th quarter valued at approximately $238,830,000. Heritage Wealth Advisors lifted its position in shares of Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after acquiring an additional 474,622 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Raymond James by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after acquiring an additional 263,687 shares during the period. SG Americas Securities LLC lifted its position in shares of Raymond James by 820.2% during the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock valued at $25,388,000 after acquiring an additional 176,210 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Raymond James by 27.4% during the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after acquiring an additional 174,286 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were 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 directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group reduced their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. TD Cowen lifted their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. cut their price objective 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. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $129.89.

Raymond James Trading Down 0.3 %

Shares of Raymond James stock opened at $115.95 on Thursday. The business has a 50 day moving average price of $115.26 and a 200 day moving average price of $120.32. 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 company has a market capitalization of $23.88 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.78 and a beta of 1.02. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly 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 the consensus estimate 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 was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. Sell-side analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.55%. Raymond James’s dividend payout ratio (DPR) is presently 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.