Raymond James (NYSE:RJF) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in Raymond James (NYSE:RJF) by 468.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,576 shares of the financial services provider’s stock after acquiring an additional 22,728 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Raymond James were worth $3,377,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. AGF Management Ltd. lifted its position in Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after purchasing an additional 378,033 shares during the period. Earnest Partners LLC grew its holdings in Raymond James by 1.5% during the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after acquiring an additional 37,173 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Raymond James by 1.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock worth $273,919,000 after purchasing an additional 25,494 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Raymond James by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after purchasing an additional 113,826 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in shares of Raymond James by 2.1% in the second quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock valued at $216,153,000 after purchasing an additional 38,695 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity

In other news, 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 sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.74% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $149.07 on Thursday. The stock has a 50-day moving average price of $126.21 and a two-hundred day moving average price of $121.82. The company has a market cap of $30.70 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a 12-month low of $94.53 and a 12-month high of $150.94.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS. As a group, research analysts predict that Raymond James will post 10.32 EPS for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. TD Cowen lifted their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. The Goldman Sachs Group upped their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $140.91.

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.