Raymond James (NYSE:RJF) Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Raymond James (NYSE:RJF) by 0.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 123,098 shares of the financial services provider’s stock after purchasing an additional 493 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Raymond James were worth $15,075,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AGF Management Ltd. increased its holdings in Raymond James by 17.2% in the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares during the last quarter. Earnest Partners LLC grew its position in shares of Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after acquiring an additional 37,173 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Raymond James by 1.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock valued at $273,919,000 after acquiring an additional 25,494 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Raymond James by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after acquiring an additional 113,826 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Raymond James by 2.1% during the second quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock worth $216,153,000 after purchasing an additional 38,695 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

RJF has been the subject of several recent research reports. Jefferies Financial Group boosted their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen increased their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. cut their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average price target of $137.36.

Insider Buying and Selling at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction 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 approximately $8,692,390. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Raymond James Trading Down 1.7 %

NYSE:RJF opened at $144.91 on Friday. Raymond James has a 1 year low of $93.91 and a 1 year high of $148.68. The business has a fifty day moving average of $124.23 and a 200-day moving average of $121.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a market cap of $30.04 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.95 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the company earned $2.13 EPS. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts predict that Raymond James will post 9.55 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.24%. Raymond James’s dividend payout ratio (DPR) is 21.77%.

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.