Asset Management One Co. Ltd. Sells 645 Shares of Raymond James (NYSE:RJF)

Asset Management One Co. Ltd. lessened its position in shares of Raymond James (NYSE:RJF) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,249 shares of the financial services provider’s stock after selling 645 shares during the period. Asset Management One Co. Ltd.’s holdings in Raymond James were worth $9,215,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. AGF Management Ltd. increased its holdings in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Earnest Partners LLC increased its holdings in Raymond James by 1.5% during the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after purchasing an additional 37,173 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Raymond James by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after buying an additional 113,826 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Raymond James by 2.1% in the 2nd 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 acquiring an additional 38,695 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on RJF shares. TD Cowen increased their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America boosted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. JMP Securities increased their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley lifted their price target 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 given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $140.91.

Raymond James Trading Down 2.7 %

Shares of RJF stock opened at $156.43 on Friday. The stock has a 50 day simple moving average of $130.14 and a 200 day simple moving average of $122.99. 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 1 year low of $98.72 and a 1 year high of $161.76. The stock has a market cap of $32.22 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99.

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

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is presently 18.54%.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.