Raymond James (NYSE:RJF) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in Raymond James (NYSE:RJF) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,707 shares of the financial services provider’s stock after acquiring an additional 21,519 shares during the period. Hsbc Holdings PLC owned 0.25% of Raymond James worth $62,982,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Smithfield Trust Co raised its stake in shares of 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 in the last quarter. Covestor Ltd raised 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 in the last quarter. OLD Point Trust & Financial Services N A bought a new position in Raymond James during the 4th quarter worth approximately $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the 1st quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC increased 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 during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group reduced their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group lifted their price target on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. TD Cowen raised their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. lowered their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus price target of $130.70.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’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 transaction 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. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $124.11 on Friday. The business has a 50 day simple moving average of $115.27 and a 200 day simple moving average of $120.30. 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 firm has a market capitalization of $25.56 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last issued 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 for the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.85 earnings per share. On average, equities research analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Raymond James Company 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.