Raymond James (RJF) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its position in Raymond James (NYSE:RJF) by 37.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,007 shares of the financial services provider’s stock after buying an additional 4,402 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Raymond James were worth $1,430,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RJF. Bank of New York Mellon Corp increased its holdings in Raymond James by 51.0% in the second quarter. Bank of New York Mellon Corp now owns 1,877,559 shares of the financial services provider’s stock valued at $167,759,000 after buying an additional 634,378 shares during the last quarter. Millennium Management LLC increased its holdings in Raymond James by 75.1% in the first quarter. Millennium Management LLC now owns 1,140,478 shares of the financial services provider’s stock valued at $101,970,000 after buying an additional 489,310 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Raymond James by 7.7% in the second quarter. Wells Fargo & Company MN now owns 4,521,398 shares of the financial services provider’s stock valued at $403,986,000 after buying an additional 322,014 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in Raymond James by 6,254.4% in the first quarter. Summit Trail Advisors LLC now owns 240,131 shares of the financial services provider’s stock valued at $240,000 after buying an additional 236,352 shares during the last quarter. Finally, FMR LLC increased its holdings in Raymond James by 30.0% in the second quarter. FMR LLC now owns 959,737 shares of the financial services provider’s stock valued at $85,753,000 after buying an additional 221,379 shares during the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

NYSE:RJF opened at $92.56 on Monday. The company has a market cap of $13.36 billion, a PE ratio of 17.70, a P/E/G ratio of 0.82 and a beta of 1.65. Raymond James has a 52 week low of $78.19 and a 52 week high of $102.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.10.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.17). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.83 billion. Raymond James had a net margin of 10.87% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. equities research analysts anticipate that Raymond James will post 6.6 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, September 28th. Raymond James’s dividend payout ratio (DPR) is presently 22.94%.

Several analysts recently weighed in on RJF shares. ValuEngine raised Raymond James from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Citigroup raised Raymond James from a “neutral” rating to a “buy” rating in a report on Friday, July 13th. Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating in a report on Thursday, May 31st. Zacks Investment Research raised Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Finally, JMP Securities raised Raymond James from a “market perform” rating to an “outperform” rating in a report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $103.75.

In other news, President John C. Jr. Carson sold 5,698 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $92.66, for a total transaction of $527,976.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.46% of the stock is currently owned by corporate insiders.

About Raymond James

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.

Further Reading: Diversification For Individual Investors

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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