Leuthold Group LLC Takes $364,000 Position in Raymond James (NYSE:RJF)

Leuthold Group LLC acquired a new position in shares of Raymond James (NYSE:RJF) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,946 shares of the financial services provider’s stock, valued at approximately $364,000.

Other institutional investors have also added to or reduced their stakes in the company. Smithfield Trust Co boosted its position in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after buying an additional 126 shares during the period. Covestor Ltd lifted its stake 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 acquiring an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Raymond James in the 4th quarter valued at approximately $33,000. Future Financial Wealth Managment LLC acquired a new position in Raymond James during the 1st quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Raymond James by 46.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 137 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group lowered their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. TD Cowen upped their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Wells Fargo & Company began coverage on Raymond James in a research note on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price target for the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James 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 report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $130.70.

Raymond James Stock Up 2.5 %

RJF opened at $124.11 on Friday. The stock’s fifty day simple moving average is $115.27 and its 200 day simple moving average is $120.30. 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 $25.56 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.81 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 issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 earnings per share. As a group, research analysts expect that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 21.77%.

Insider Transactions at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred 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 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 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.