Wilmington Savings Fund Society FSB Grows Stock Holdings in Raymond James (NYSE:RJF)

Wilmington Savings Fund Society FSB lifted its position in shares of Raymond James (NYSE:RJF) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,439 shares of the financial services provider’s stock after purchasing an additional 1,026 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Raymond James were worth $8,259,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RJF. Wellington Management Group LLP increased its position in Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after buying an additional 474,443 shares in the last quarter. AGF Management Ltd. boosted its position in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Raymond James in the 3rd quarter worth approximately $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in Raymond James in the third quarter valued at about $28,985,000. 83.83% of the stock is owned by institutional investors.

Insider Activity

In other Raymond James news, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,621 shares of company stock valued at $9,134,788 in the last ninety days. 9.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RJF shares. Wells Fargo & Company restated an “equal weight” rating and set a $169.00 target price (up previously from $152.00) on shares of Raymond James in a research note on Thursday. JMP Securities boosted their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group raised their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen raised their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Raymond James has an average rating of “Hold” and an average target price of $142.45.

Raymond James Price Performance

RJF stock opened at $160.37 on Friday. The stock has a market cap of $32.72 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38. The business has a fifty day moving average of $151.78 and a two-hundred day moving average of $129.78.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts anticipate that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is currently 18.54%.

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.