&Partners Buys Shares of 2,543 Raymond James (NYSE:RJF)

&Partners purchased a new position in Raymond James (NYSE:RJF) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,543 shares of the financial services provider’s stock, valued at approximately $314,000.

A number of other large investors also recently modified their holdings of the company. Smithfield Trust Co boosted its holdings in Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd boosted its stake in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in Raymond James during the fourth quarter worth about $33,000. Future Financial Wealth Managment LLC bought a new position in Raymond James in the 1st quarter worth about $33,000. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 137 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on RJF shares. Jefferies Financial Group upped their price objective on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. dropped their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. UBS Group cut their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. TD Cowen raised their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $129.89.

Raymond James Price Performance

Shares of Raymond James stock opened at $116.79 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a one year low of $91.67 and a one year high of $131.19. The business’s 50 day simple moving average is $116.08 and its two-hundred day simple moving average is $120.25. The stock has a market capitalization of $24.05 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. Analysts forecast that Raymond James will post 9.57 EPS for the current year.

Raymond James Announces Dividend

The company 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 dividend of $0.45 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.54%. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated 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 directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

About Raymond James

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.