Moody National Bank Trust Division Sells 293 Shares of Raymond James (NYSE:RJF)

Moody National Bank Trust Division cut its stake in Raymond James (NYSE:RJF) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,346 shares of the financial services provider’s stock after selling 293 shares during the period. Moody National Bank Trust Division’s holdings in Raymond James were worth $1,155,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in Raymond James during the fourth quarter worth $238,830,000. Heritage Wealth Advisors grew its holdings in shares of Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after purchasing an additional 474,622 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Raymond James by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after purchasing an additional 263,687 shares during the last quarter. SG Americas Securities LLC increased its position in Raymond James by 820.2% during the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after purchasing an additional 176,210 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Raymond James by 27.4% in the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after buying an additional 174,286 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Activity at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RJF shares. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. UBS Group cut their target price on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Bank of America dropped their price target on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Jefferies Financial Group increased their price objective on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, Keefe, Bruyette & Woods decreased their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $129.89.

Raymond James Stock Performance

RJF traded down $2.61 during midday trading on Monday, reaching $106.39. The company had a trading volume of 2,618,896 shares, compared to its average volume of 1,149,312. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. The business has a 50-day moving average price of $118.02 and a two-hundred day moving average price of $120.17. The stock has a market cap of $22.05 billion, a PE ratio of 12.86, a P/E/G ratio of 0.76 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.67%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. On average, sell-side analysts expect that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. Raymond James’s payout ratio is 21.77%.

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.