Blue Trust Inc. Buys 1,184 Shares of Raymond James (NYSE:RJF)

Blue Trust Inc. raised its stake in Raymond James (NYSE:RJF) by 33.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,694 shares of the financial services provider’s stock after acquiring an additional 1,184 shares during the period. Blue Trust Inc.’s holdings in Raymond James were worth $580,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RJF. Wedmont Private Capital increased its holdings in shares of Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 86 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Raymond James by 1.6% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares in the last quarter. Covestor Ltd raised its stake in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in Raymond James by 0.3% during the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock valued at $5,332,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Down 0.7 %

RJF stock opened at $137.50 on Tuesday. Raymond James has a 12 month low of $91.67 and a 12 month high of $139.40. The firm’s 50-day moving average is $121.53 and its 200 day moving average is $120.84. The company has a market capitalization of $28.32 billion, a PE ratio of 15.50, a P/E/G ratio of 0.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $3.24 billion. During the same period last year, the company posted $1.85 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Raymond James will post 9.55 EPS for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio is 20.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RJF shares. JPMorgan Chase & Co. reduced their target price 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. TD Cowen lifted their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. The Goldman Sachs Group cut their target price on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Wells Fargo & Company lifted their price objective on shares of Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, UBS Group reduced their target price 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. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $133.36.

Insider Transactions at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s 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 sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s 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 sale, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

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.