Raymond James (NYSE:RJF) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its stake in Raymond James (NYSE:RJF) by 15.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 93,107 shares of the financial services provider’s stock after selling 16,873 shares during the quarter. Toronto Dominion Bank’s holdings in Raymond James were worth $11,509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Heritage Wealth Advisors boosted its stake in Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after purchasing an additional 474,622 shares during the period. AGF Management Ltd. boosted its position in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after buying an additional 378,033 shares during the period. SG Americas Securities LLC grew its holdings in Raymond James by 820.2% in the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after buying an additional 176,210 shares in the last quarter. Sei Investments Co. increased its position in Raymond James by 27.4% in the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after acquiring an additional 174,286 shares during the period. Finally, Avity Investment Management Inc. bought a new stake in Raymond James during the 1st quarter valued at $18,548,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RJF shares. The Goldman Sachs Group cut their price objective on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday. TD Cowen boosted their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. decreased their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Wells Fargo & Company began coverage on Raymond James in a report on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price on the stock. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $131.60.

Raymond James Trading Down 0.0 %

Shares of RJF opened at $122.46 on Friday. The business’s 50-day moving average price is $116.43 and its 200 day moving average price is $120.46. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $25.22 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.84 and a beta of 1.02. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the firm posted $1.85 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts expect that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Dividend Announcement

The firm 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 $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.47%. Raymond James’s payout ratio is currently 21.77%.

Insider Transactions at Raymond James

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

About Raymond James

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.