Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in shares of Raymond James (NYSE:RJF) by 40.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,155 shares of the financial services provider’s stock after selling 800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Raymond James were worth $106,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in RJF. Willingdon Wealth Management purchased a new position in Raymond James during the 2nd quarter valued at approximately $112,000. Rehmann Capital Advisory Group grew its holdings in Raymond James by 57.7% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock valued at $129,000 after buying an additional 530 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Raymond James during the 2nd quarter valued at approximately $135,000. CENTRAL TRUST Co grew its holdings in Raymond James by 59.9% during the 3rd quarter. CENTRAL TRUST Co now owns 1,868 shares of the financial services provider’s stock valued at $172,000 after buying an additional 700 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in Raymond James during the 2nd quarter valued at approximately $183,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.
Several research firms have weighed in on RJF. Zacks Investment Research upgraded Raymond James from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Thursday, October 4th. Wolfe Research began coverage on Raymond James in a report on Tuesday, September 25th. They set an “outperform” rating for the company. JMP Securities upgraded Raymond James from a “market perform” rating to an “outperform” rating in a report on Friday, July 27th. Citigroup upgraded Raymond James from a “neutral” rating to a “buy” rating in a report on Friday, July 13th. Finally, ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $104.00.
In other news, President John C. Jr. Carson sold 5,698 shares of the firm’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 value of $527,976.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn acquired 1,500 shares of the stock in a transaction dated Monday, October 29th. The stock was bought at an average cost of $73.75 per share, with a total value of $110,625.00. Following the completion of the purchase, the insider now directly owns 12,055 shares in the company, valued at $889,056.25. The disclosure for this purchase can be found here. 10.46% of the stock is owned by company insiders.
NYSE:RJF opened at $79.47 on Tuesday. The company has a market capitalization of $11.54 billion, a PE ratio of 12.28, a P/E/G ratio of 0.62 and a beta of 1.74. Raymond James has a 1 year low of $71.93 and a 1 year 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 quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.13). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Raymond James had a net margin of 11.46% and a return on equity of 15.99%. Research analysts expect that Raymond James will post 7.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, September 28th. Raymond James’s payout ratio is 18.55%.
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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.
Further Reading: Cost of Capital
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