MML Investors Services LLC Buys 98 Shares of Raymond James (NYSE:RJF)

MML Investors Services LLC increased its stake in shares of Raymond James (NYSE:RJF) by 0.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,467 shares of the financial services provider’s stock after buying an additional 98 shares during the period. MML Investors Services LLC’s holdings in Raymond James were worth $2,751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after purchasing an additional 7,028 shares during the period. XTX Topco Ltd increased its position in Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 6,649 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James in the third quarter valued at $3,561,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Raymond James by 109.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock valued at $13,778,000 after buying an additional 58,200 shares during the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of Raymond James by 10.4% during the 2nd quarter. Raymond James Trust N.A. now owns 202,221 shares of the financial services provider’s stock worth $24,997,000 after acquiring an additional 18,968 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on RJF. Bank of America increased their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company reissued an “equal weight” rating and set a $169.00 target price (up previously from $152.00) on shares of Raymond James in a report on Thursday. TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, JMP Securities boosted their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $142.45.

Raymond James Stock Up 0.1 %

RJF stock opened at $160.49 on Monday. The company’s 50 day moving average is $152.45 and its 200 day moving average is $130.12. The stock has a market cap of $32.75 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 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 firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Sell-side analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

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

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,621 shares of company stock valued at $9,134,788 over the last 90 days. Insiders own 9.74% of the company’s stock.

Raymond James 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.