Raymond James (NYSE:RJF) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its position in Raymond James (NYSE:RJF) by 24.9% during the third quarter, Holdings Channel reports. The fund owned 10,165 shares of the financial services provider’s stock after selling 3,370 shares during the quarter. Park Avenue Securities LLC’s holdings in Raymond James were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC increased its stake in shares of Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC increased its position in Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after acquiring an additional 96 shares during the period. Oarsman Capital Inc. raised its stake in Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after acquiring an additional 99 shares in the last quarter. Covestor Ltd boosted its position in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the period. Finally, Retirement Systems of Alabama grew its stake in shares of Raymond James by 0.3% in the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock worth $5,332,000 after purchasing an additional 107 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The trade was 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 insiders.

Raymond James Trading Down 0.4 %

NYSE:RJF opened at $124.92 on Wednesday. The stock has a fifty day simple moving average of $117.86 and a 200 day simple moving average of $120.57. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the company posted $1.85 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.44%. Raymond James’s payout ratio is currently 21.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. TD Cowen upped their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 price objective on the stock. The Goldman Sachs Group cut their target price 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. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $131.90.

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.