DekaBank Deutsche Girozentrale Buys 3,694 Shares of Raymond James (NYSE:RJF)

DekaBank Deutsche Girozentrale increased its stake in shares of Raymond James (NYSE:RJF) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,312 shares of the financial services provider’s stock after buying an additional 3,694 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Raymond James were worth $4,519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd boosted its holdings in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Smithfield Trust Co boosted its holdings in Raymond James by 105.0% in 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 bought a new stake in Raymond James in the 1st quarter valued at about $33,000. OLD Point Trust & Financial Services N A bought a new stake in Raymond James in the 4th quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 137 shares during the period. 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 company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 filing with the SEC, which is available at this hyperlink. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the 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 in the company, valued at $8,692,390. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the 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 sale, 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. Corporate insiders own 9.74% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $120.68 on Wednesday. The company has a 50 day simple moving average of $115.20 and a 200 day simple moving average of $120.29. The stock has a market cap of $24.85 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.79 and a beta of 1.02. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. 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 (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the company posted $1.85 EPS. The company’s revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.49%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wells Fargo & Company began coverage on shares of Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price target for the company. TD Cowen upped their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. UBS Group cut their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average target price of $130.70.

Raymond James Company 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.