Envestnet Asset Management Inc. Has $131.83 Million Stock Holdings in Raymond James (NYSE:RJF)

Envestnet Asset Management Inc. increased its position in Raymond James (NYSE:RJF) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,066,477 shares of the financial services provider’s stock after purchasing an additional 27,727 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.51% of Raymond James worth $131,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new stake in shares of Raymond James during the fourth quarter worth approximately $289,000. Principal Securities Inc. acquired a new position in shares of Raymond James in the 4th quarter valued at $150,000. Quadrant Capital Group LLC boosted its position in shares of Raymond James by 35.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,361 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 359 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Raymond James during the fourth quarter worth $207,000. Finally, Kentucky Retirement Systems grew its stake in shares of Raymond James by 2.2% during the fourth quarter. Kentucky Retirement Systems now owns 15,036 shares of the financial services provider’s stock worth $1,677,000 after purchasing an additional 330 shares during the period. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Wells Fargo & Company began coverage on shares of Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 price objective on the stock. Jefferies Financial Group upped their target price on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. TD Cowen lifted their price target 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.70.

Raymond James Price Performance

RJF stock opened at $119.77 on Tuesday. The stock has a 50-day moving average price of $115.20 and a two-hundred day moving average price of $120.29. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The stock has a market cap of $24.67 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last posted 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 business 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $1.85 earnings per share. Equities analysts forecast that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 21.77%.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction 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 sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the 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 completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s 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 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 corporate insiders.

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.