Raymond James (NYSE:RJF) Position Cut by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its holdings in shares of Raymond James (NYSE:RJF) by 12.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,351 shares of the financial services provider’s stock after selling 35,571 shares during the period. Clearbridge Investments LLC owned approximately 0.12% of Raymond James worth $31,564,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RJF. Quarry LP bought a new stake in shares of Raymond James during the second quarter valued at about $29,000. 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 in the last quarter. Covestor Ltd raised its holdings in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the fourth quarter worth approximately $33,000. Finally, Future Financial Wealth Managment LLC bought a new position in Raymond James during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on 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 assumed coverage on shares of Raymond James in a research report on Thursday, September 12th. They set an “overweight” rating and a $138.00 price objective for the company. UBS Group cut their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. TD Cowen lifted 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. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $131.60.

Raymond James Trading Up 0.7 %

NYSE RJF opened at $124.70 on Friday. The firm’s 50 day moving average price is $117.13 and its two-hundred day moving average price is $120.53. The stock has a market cap of $25.85 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.83 and a beta of 1.02. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last posted its quarterly 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 for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the firm earned $1.85 earnings per share. Raymond James’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Buying and Selling

In other Raymond James news, 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 owns 35,380 shares in the company, valued at approximately $3,879,063.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $1,996,745.00. Following the transaction, the executive vice president now 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 this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The shares were 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 owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate 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.