B. Riley Wealth Advisors Inc. Increases Stake in Raymond James (NYSE:RJF)

B. Riley Wealth Advisors Inc. increased its position in shares of Raymond James (NYSE:RJF) by 35.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,384 shares of the financial services provider’s stock after purchasing an additional 1,687 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Raymond James were worth $789,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new position in shares of Raymond James during the 2nd quarter worth about $29,000. William B. Walkup & Associates Inc. purchased a new stake in Raymond James during the second quarter worth approximately $1,656,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Raymond James by 15.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,965 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 404 shares in the last quarter. Nemes Rush Group LLC increased its stake in Raymond James by 0.3% in the second quarter. Nemes Rush Group LLC now owns 64,820 shares of the financial services provider’s stock valued at $8,012,000 after purchasing an additional 172 shares during the last quarter. Finally, Creative Planning increased its stake in Raymond James by 2.2% in the second quarter. Creative Planning now owns 37,781 shares of the financial services provider’s stock valued at $4,670,000 after purchasing an additional 797 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $127.13 on Friday. 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 50 day simple moving average of $117.27 and a 200-day simple moving average of $120.56. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.83 and a beta of 1.02. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last released 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.85 earnings per share. On average, equities analysts forecast that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The business 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. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is 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 dated 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 transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’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 owns 75,586 shares in the company, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RJF has been the subject of several research analyst reports. Wells Fargo & Company began coverage on shares of Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 target price for the company. 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. JPMorgan Chase & Co. lowered their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Jefferies Financial Group upped their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday. Finally, The Goldman Sachs Group lowered their target price on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $131.90.

Raymond James Company 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.