Raymond James Trust N.A. Raises Stake in Raymond James (NYSE:RJF)

Raymond James Trust N.A. increased its stake in Raymond James (NYSE:RJF) by 10.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 202,221 shares of the financial services provider’s stock after buying an additional 18,968 shares during the quarter. Raymond James Trust N.A.’s holdings in Raymond James were worth $24,997,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board lifted its holdings in Raymond James by 4.4% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 240 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Raymond James by 86.2% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 2,047 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Raymond James by 25.4% during the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after purchasing an additional 89,981 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in shares of Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 2,328 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Raymond James by 44.5% during the fourth quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock valued at $12,349,000 after buying an additional 34,101 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction 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 directly owns 35,380 shares in the company, valued at $3,879,063.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Raymond James Price Performance

Shares of RJF stock traded up $0.58 during trading on Friday, hitting $116.79. The company had a trading volume of 633,478 shares, compared to its average volume of 1,134,919. The stock has a market capitalization of $24.05 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. The stock’s 50-day moving average is $116.08 and its two-hundred day moving average is $120.18. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 earnings per share. As a group, analysts predict that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RJF. UBS Group decreased their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group upped their price target on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. JPMorgan Chase & Co. decreased their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, TD Cowen upped their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $129.89.

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.