Raymond James (NYSE:RJF) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its position in shares of Raymond James (NYSE:RJF) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,215,996 shares of the financial services provider’s stock after acquiring an additional 25,494 shares during the period. Massachusetts Financial Services Co. MA owned about 1.07% of Raymond James worth $273,919,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. AGF Management Ltd. grew its holdings in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after purchasing an additional 378,033 shares during the last quarter. Earnest Partners LLC grew its stake in Raymond James by 5.9% during the 1st quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock worth $316,966,000 after buying an additional 138,075 shares during the last quarter. Norges Bank bought a new stake in Raymond James in the fourth quarter valued at $238,830,000. Bank of New York Mellon Corp boosted its holdings in shares of Raymond James by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 1,320,253 shares of the financial services provider’s stock valued at $163,197,000 after acquiring an additional 9,485 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Raymond James by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,066,477 shares of the financial services provider’s stock worth $131,827,000 after acquiring an additional 27,727 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RJF has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. TD Cowen boosted their price objective on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wells Fargo & Company began coverage on Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price on the stock. UBS Group lowered their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Jefferies Financial Group increased their target price 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. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Raymond James has a consensus rating of “Hold” and an average target price of $130.70.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’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 transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $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 Trading Up 0.8 %

Shares of NYSE:RJF opened at $120.68 on Wednesday. The stock has a market capitalization of $24.85 billion, a price-to-earnings ratio of 14.59, a PEG 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 50 day moving average price of $115.20 and a 200 day moving average price of $120.29. 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 (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.85 EPS. On average, research analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio 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.