First Trust Advisors LP lifted its holdings in shares of Raymond James (NYSE:RJF) by 18.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,041 shares of the financial services provider’s stock after purchasing an additional 23,476 shares during the quarter. First Trust Advisors LP owned about 0.10% of Raymond James worth $13,811,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of RJF. Massachusetts Financial Services Co. MA lifted its stake in shares of Raymond James by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 918,117 shares of the financial services provider’s stock worth $84,512,000 after purchasing an additional 50,989 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Raymond James during the third quarter worth about $1,302,000. IFM Investors Pty Ltd lifted its stake in shares of Raymond James by 16.6% during the third quarter. IFM Investors Pty Ltd now owns 7,139 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 1,014 shares in the last quarter. Skylands Capital LLC lifted its stake in shares of Raymond James by 3.9% during the third quarter. Skylands Capital LLC now owns 47,150 shares of the financial services provider’s stock worth $4,340,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Oakbrook Investments LLC lifted its stake in shares of Raymond James by 40.7% during the third quarter. Oakbrook Investments LLC now owns 14,870 shares of the financial services provider’s stock worth $1,369,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.
Shares of NYSE RJF opened at $79.50 on Friday. Raymond James has a 1 year low of $71.93 and a 1 year high of $102.17. The stock has a market cap of $11.84 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.64 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 announced its earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.13). Raymond James had a return on equity of 15.99% and a net margin of 11.46%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Equities research analysts anticipate that Raymond James will post 7.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, September 28th. Raymond James’s payout ratio is 18.55%.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Raymond James from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Thursday, October 4th. Wolfe Research assumed coverage on Raymond James in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. JMP Securities raised Raymond James from a “market perform” rating to an “outperform” rating in a research report on Friday, July 27th. ValuEngine lowered Raymond James from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, Citigroup lowered Raymond James from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $104.00.
In other Raymond James news, insider Tashtego S. Elwyn bought 1,500 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were acquired at an average cost of $73.75 per share, with a total value of $110,625.00. Following the completion of the transaction, the insider now owns 12,055 shares in the company, valued at $889,056.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President John C. Jr. Carson sold 5,698 shares of Raymond James stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $92.66, for a total value of $527,976.68. The disclosure for this sale can be found here. 10.46% of the stock is currently owned by insiders.
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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.
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