Westfield Capital Management Co. LP lifted its stake in shares of Raymond James (NYSE:RJF) by 0.6% during the first quarter, HoldingsChannel.com reports. The fund owned 599,371 shares of the financial services provider’s stock after buying an additional 3,561 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Raymond James were worth $48,195,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its holdings in Raymond James by 1.3% during the third quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock worth $1,266,683,000 after buying an additional 182,616 shares during the last quarter. BlackRock Inc. grew its stake in shares of Raymond James by 1.1% in the 4th quarter. BlackRock Inc. now owns 8,648,787 shares of the financial services provider’s stock worth $643,557,000 after acquiring an additional 97,786 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Raymond James by 27.9% in the 1st quarter. Primecap Management Co. CA now owns 2,039,950 shares of the financial services provider’s stock worth $164,032,000 after acquiring an additional 445,300 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Raymond James by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 1,643,101 shares of the financial services provider’s stock worth $122,040,000 after acquiring an additional 102,797 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Raymond James by 1.2% in the 4th quarter. Northern Trust Corp now owns 1,486,063 shares of the financial services provider’s stock worth $110,579,000 after acquiring an additional 17,404 shares in the last quarter. Institutional investors own 70.06% of the company’s stock.
RJF traded down $1.58 during trading on Friday, hitting $81.99. 16,803 shares of the company traded hands, compared to its average volume of 786,969. The firm has a market cap of $11.75 billion, a P/E ratio of 12.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.11. Raymond James has a one year low of $69.11 and a one year high of $99.45.
Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.14. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. Raymond James had a net margin of 12.90% and a return on equity of 15.90%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. Equities research analysts predict that Raymond James will post 7.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.34 per share. The ex-dividend date is Friday, June 28th. This represents a $1.36 annualized dividend and a yield of 1.66%. Raymond James’s payout ratio is currently 21.02%.
Several analysts have recently issued reports on the stock. Argus reiterated a “buy” rating on shares of Raymond James in a research note on Tuesday, April 30th. Citigroup upped their target price on shares of Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. ValuEngine upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Wells Fargo & Co upped their target price on shares of Raymond James from $92.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Finally, Zacks Investment Research upgraded shares of Raymond James from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Raymond James currently has a consensus rating of “Buy” and a consensus price target of $94.63.
In related news, CEO Paul C. Reilly sold 60,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $91.35, for a total transaction of $5,481,000.00. Following the completion of the transaction, the chief executive officer now owns 80,382 shares in the company, valued at $7,342,895.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan N. Santelli sold 725 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $84.82, for a total transaction of $61,494.50. Following the transaction, the executive vice president now owns 3,003 shares of the company’s stock, valued at approximately $254,714.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,881 shares of company stock valued at $10,012,987. 10.74% of the stock is owned by company insiders.
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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