Raymond James (RJF) Shares Sold by Pendal Group Ltd

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Pendal Group Ltd reduced its stake in Raymond James (NYSE:RJF) by 7.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 967,484 shares of the financial services provider’s stock after selling 74,164 shares during the quarter. Raymond James makes up 1.2% of Pendal Group Ltd’s portfolio, making the stock its 25th biggest position. Pendal Group Ltd’s holdings in Raymond James were worth $89,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RJF. Rehmann Capital Advisory Group increased its position in shares of Raymond James by 57.7% during the second quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 530 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Raymond James by 18.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,548 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 555 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Raymond James by 0.4% during the second quarter. Public Employees Retirement System of Ohio now owns 153,879 shares of the financial services provider’s stock worth $13,749,000 after acquiring an additional 566 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Raymond James by 5.2% during the second quarter. CIBC Asset Management Inc now owns 13,287 shares of the financial services provider’s stock worth $1,187,000 after acquiring an additional 658 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Raymond James by 1.7% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,328 shares of the financial services provider’s stock worth $3,514,000 after acquiring an additional 667 shares in the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Tashtego S. Elwyn bought 1,500 shares of the company’s stock in a transaction on Monday, October 29th. The shares were purchased at an average cost of $73.75 per share, for a total transaction of $110,625.00. Following the completion of the purchase, the insider now directly owns 12,055 shares in the company, valued at $889,056.25. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, President John C. Jr. Carson sold 5,698 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $92.66, for a total transaction of $527,976.68. The disclosure for this sale can be found here. 10.46% of the stock is owned by insiders.

Raymond James stock opened at $79.47 on Tuesday. Raymond James has a fifty-two week low of $71.93 and a fifty-two week high of $102.17. The stock has a market cap of $11.54 billion, a P/E ratio of 12.28, a PEG ratio of 0.62 and a beta of 1.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.10 and a current ratio of 1.12.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.13). The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Raymond James had a net margin of 11.46% and a return on equity of 15.99%. As a group, research analysts anticipate that Raymond James will post 7.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, September 28th. Raymond James’s payout ratio is 18.55%.

Several equities research analysts have recently commented on RJF shares. Zacks Investment Research downgraded shares of Raymond James from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Citigroup upgraded shares of Raymond James from a “neutral” rating to a “buy” rating in a report on Friday, July 13th. Wells Fargo & Co cut their price target on shares of Raymond James from $111.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Credit Suisse Group cut their price target on shares of Raymond James from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Finally, Wolfe Research began coverage on shares of Raymond James in a report on Tuesday, September 25th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $104.00.

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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.

Further Reading: Technical Analysis

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJF).

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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