SYSTM Wealth Solutions LLC Boosts Holdings in Raymond James (NYSE:RJF)

SYSTM Wealth Solutions LLC boosted its position in Raymond James (NYSE:RJF) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,067 shares of the financial services provider’s stock after buying an additional 1,851 shares during the period. Raymond James makes up about 1.2% of SYSTM Wealth Solutions LLC’s holdings, making the stock its 24th biggest position. SYSTM Wealth Solutions LLC’s holdings in Raymond James were worth $5,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd grew its position in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Smithfield Trust Co grew its position in Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Raymond James in the 1st quarter valued at $33,000. OLD Point Trust & Financial Services N A purchased a new position in Raymond James in the 4th quarter valued at $33,000. Finally, FinTrust Capital Advisors LLC boosted its position in shares of Raymond James by 46.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 137 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Trading Up 0.8 %

Shares of RJF stock opened at $120.68 on Wednesday. The firm has a 50-day moving average price of $115.20 and a 200 day moving average price of $120.29. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a market capitalization of $24.85 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.79 and a beta of 1.02. 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 (NYSE:RJF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $1.85 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts forecast that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.49%. The ex-dividend date is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

Insider Activity

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 filing with the SEC, which is available at this hyperlink. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 filing with the SEC, which is available at this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Jefferies Financial Group boosted their target price 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. Wells Fargo & Company assumed coverage on shares of Raymond James in a research report on Thursday, September 12th. They set an “overweight” rating and a $138.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of 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, UBS Group decreased their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average price target of $130.70.

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.