Net Worth Advisory Group bought a new position in shares of Raymond James (NYSE:RJF - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,426 shares of the financial services provider's stock, valued at approximately $542,000.
Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its position in Raymond James by 20.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 4,971 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 855 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Raymond James by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,797 shares of the financial services provider's stock worth $2,547,000 after buying an additional 332 shares during the period. Cardinal Capital Management lifted its stake in Raymond James by 2.9% in the third quarter. Cardinal Capital Management now owns 32,106 shares of the financial services provider's stock valued at $3,932,000 after buying an additional 907 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Raymond James in the third quarter valued at approximately $1,041,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after acquiring an additional 198 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.
In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now owns 75,586 shares of the company's stock, valued at $8,692,390. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares of the company's stock, valued at approximately $8,692,390. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on RJF. Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. TD Cowen raised their price objective on Raymond James from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Monday, July 8th. JPMorgan Chase & Co. decreased their target price on Raymond James from $137.00 to $135.00 and set an "overweight" rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company lifted their price target on Raymond James from $138.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group dropped their price target on Raymond James from $127.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, September 26th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $133.36.
View Our Latest Research Report on RJF
Shares of NYSE RJF opened at $138.51 on Friday. The stock has a market cap of $28.52 billion, a P/E ratio of 15.62, a P/E/G ratio of 0.90 and a beta of 1.02. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $139.40. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $121.53 and its 200 day simple moving average is $120.90.
Raymond James (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. Equities analysts expect that Raymond James will post 9.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James's dividend payout ratio is currently 20.29%.
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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