Nemes Rush Group LLC Has $8.01 Million Stake in Raymond James (NYSE:RJF)

Nemes Rush Group LLC grew its stake in Raymond James (NYSE:RJF) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,820 shares of the financial services provider’s stock after purchasing an additional 172 shares during the period. Nemes Rush Group LLC’s holdings in Raymond James were worth $8,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC boosted its position in Raymond James by 36.9% in the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 2,328 shares in the last quarter. Norden Group LLC boosted its holdings in shares of Raymond James by 3,257.7% during the 1st quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after acquiring an additional 82,419 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Raymond James by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after acquiring an additional 11,427 shares during the last quarter. Bessemer Group Inc. increased its holdings in Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after purchasing an additional 17,499 shares in the last quarter. Finally, Chilton Investment Co. Inc. bought a new position in Raymond James in the fourth quarter valued at about $856,000. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RJF. The Goldman Sachs Group reduced their price target on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. TD Cowen raised their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. cut their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Wells Fargo & Company assumed coverage on Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective for the company. Ten research 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, Raymond James presently has a consensus rating of “Hold” and an average price target of $131.60.

Insider Activity at Raymond James

In other Raymond James 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 value of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’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 transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $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 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 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 disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Raymond James Stock Performance

Shares of Raymond James stock opened at $122.46 on Friday. The business has a 50-day moving average price of $116.43 and a two-hundred day moving average price of $120.47. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. 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 company has a market cap of $25.22 billion, a P/E ratio of 14.81, a PEG ratio of 0.84 and a beta of 1.02.

Raymond James (NYSE:RJF) last released 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 business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the firm posted $1.85 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 1.47%. Raymond James’s dividend payout ratio is currently 21.77%.

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.