Raymond James (NYSE:RJF) Holdings Trimmed by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP reduced its position in shares of Raymond James (NYSE:RJF) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,341 shares of the financial services provider’s stock after selling 111 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Raymond James were worth $413,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Smithfield Trust Co raised its position in Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares during the period. Covestor Ltd grew 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 valued at $31,000 after acquiring an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Raymond James during the 4th quarter valued at about $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the 1st quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Raymond James by 46.9% in the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

RJF opened at $122.46 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market cap of $25.22 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.85 and a beta of 1.02. The stock has a 50-day moving average of $116.15 and a 200-day moving average of $120.44. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS 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 company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter last year, the company posted $1.85 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.47%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insiders Place Their Bets

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $8,692,390. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, 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 transaction of $1,996,745.00. Following the completion of the transaction, 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 can be accessed through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on RJF. JPMorgan Chase & Co. lowered their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. The Goldman Sachs Group lowered their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company initiated coverage on Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price objective for the company. UBS Group lowered their target price on 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 raised their price target on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $131.60.

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.