abrdn plc Purchases 12,174 Shares of Raymond James (NYSE:RJF)

abrdn plc grew its position in shares of Raymond James (NYSE:RJF) by 28.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,743 shares of the financial services provider’s stock after purchasing an additional 12,174 shares during the quarter. abrdn plc’s holdings in Raymond James were worth $6,676,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its position in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new position in shares of Raymond James during the 2nd quarter valued at about $29,000. Covestor Ltd increased its position in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. Smithfield Trust Co increased its position in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the 3rd quarter valued at about $32,000. 83.83% of the stock is currently owned by institutional investors.

Insider Activity at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.74% of the stock is owned by corporate insiders.

Raymond James Trading Down 2.7 %

RJF opened at $144.29 on Friday. The stock has a market cap of $29.72 billion, a PE ratio of 14.86, a PEG ratio of 0.75 and a beta of 0.98. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average of $127.40 and a 200-day moving average of $122.16. Raymond James has a 52 week low of $97.05 and a 52 week high of $151.59.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. Equities research analysts predict that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is presently 18.54%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Morgan Stanley increased their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $140.91.

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.