MGO One Seven LLC Increases Stake in Raymond James (NYSE:RJF)

MGO One Seven LLC raised its holdings in shares of Raymond James (NYSE:RJF) by 41.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,020 shares of the financial services provider’s stock after acquiring an additional 4,982 shares during the quarter. MGO One Seven LLC’s holdings in Raymond James were worth $2,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RJF. Daiwa Securities Group Inc. lifted its position in Raymond James by 9.3% during the second quarter. Daiwa Securities Group Inc. now owns 21,201 shares of the financial services provider’s stock valued at $2,621,000 after purchasing an additional 1,809 shares in the last quarter. Choreo LLC bought a new position in shares of Raymond James during the 2nd quarter valued at approximately $330,000. Quest Partners LLC bought a new position in shares of Raymond James during the 2nd quarter valued at approximately $849,000. Caprock Group LLC purchased a new stake in Raymond James in the 2nd quarter worth approximately $728,000. Finally, Acadian Asset Management LLC bought a new stake in Raymond James during the 2nd quarter worth approximately $708,000. Institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms have weighed in on RJF. UBS Group dropped their price target 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. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. JPMorgan Chase & Co. decreased 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. TD Cowen upped their price objective on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group lifted their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $129.89.

Raymond James Stock Down 0.3 %

Shares of RJF opened at $115.95 on Thursday. The business’s 50 day simple moving average is $115.26 and its 200-day simple moving average is $120.32. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.78 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating 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 business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter last year, the business earned $1.85 earnings per share. Raymond James’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Raymond James will post 9.58 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.55%. Raymond James’s dividend payout ratio is currently 21.77%.

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.