Raymond James (NYSE:RJF) Stake Cut by NBW Capital LLC

NBW Capital LLC reduced its holdings in Raymond James (NYSE:RJF) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,760 shares of the financial services provider’s stock after selling 88 shares during the period. NBW Capital LLC’s holdings in Raymond James were worth $4,173,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC lifted its stake in Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its position in Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 96 shares during the last quarter. Oarsman Capital Inc. increased its position in Raymond James by 0.9% in the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 99 shares during the last quarter. Covestor Ltd increased its position in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in Raymond James by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock worth $5,332,000 after purchasing an additional 107 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

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 sale, the executive vice president now 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 through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James 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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wells Fargo & Company assumed coverage on Raymond James in a research report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 target price on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. UBS Group dropped 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. Finally, TD Cowen increased their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target of $130.70.

Raymond James Price Performance

Shares of NYSE:RJF opened at $124.16 on Wednesday. The business has a 50 day moving average price of $115.69 and a 200 day moving average price of $120.39. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a market cap of $25.57 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last announced its earnings results 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. 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 during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The firm’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 Announces Dividend

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

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.