Sei Investments Co. Purchases 52,587 Shares of Raymond James (NYSE:RJF)

Sei Investments Co. boosted its position in shares of Raymond James (NYSE:RJF) by 6.2% in the second quarter, HoldingsChannel reports. The fund owned 902,501 shares of the financial services provider’s stock after purchasing an additional 52,587 shares during the quarter. Sei Investments Co.’s holdings in Raymond James were worth $111,558,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Smithfield Trust Co boosted its position in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Covestor Ltd boosted its holdings in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Raymond James during the fourth quarter worth about $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the first quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC raised its position in shares of 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 last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. 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 note on Thursday, July 25th. UBS Group cut their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group raised their target price on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, TD Cowen boosted their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note 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 stock. According to MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus price target of $130.70.

Raymond James Price Performance

Shares of RJF opened at $124.31 on Friday. The business’s 50-day moving average is $115.34 and its two-hundred day moving average is $120.32. The company has a market capitalization of $25.60 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.81 and a beta of 1.02. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. 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 posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the company earned $1.85 earnings per share. Raymond James’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is 21.77%.

Insider Activity at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’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 sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly 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 link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The disclosure for this sale can be found here. Company 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.