APG Asset Management N.V. Boosts Stake in Raymond James (NYSE:RJF)

APG Asset Management N.V. lifted its position in Raymond James (NYSE:RJF) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,874,140 shares of the financial services provider’s stock after purchasing an additional 38,695 shares during the quarter. APG Asset Management N.V. owned approximately 0.91% of Raymond James worth $216,153,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RJF. Smithfield Trust Co boosted its holdings in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares during the period. Covestor Ltd boosted its stake in Raymond James by 77.0% during 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 period. OLD Point Trust & Financial Services N A purchased a new position in Raymond James during the 4th quarter worth $33,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the first quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of Raymond James by 46.9% during the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $125.10 on Thursday. The firm has a 50 day moving average of $115.92 and a 200-day moving average of $120.42. The company has a market cap of $25.76 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.85 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 has a 12-month low of $91.67 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. Raymond James’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. As a group, equities analysts expect that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Raymond James’s payout ratio is 21.77%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. 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 price target on the stock. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. UBS Group dropped their price objective 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. Finally, Jefferies Financial Group upped their price objective on shares of Raymond James from $122.00 to $123.00 and gave the stock 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $130.70.

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 dated 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 sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction 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 completion of 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 accessible through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

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.