Raymond James (NYSE:RJF) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its holdings in Raymond James (NYSE:RJF) by 25.8% in the third quarter, Holdings Channel.com reports. The firm owned 2,650 shares of the financial services provider’s stock after selling 921 shares during the period. Fulton Bank N.A.’s holdings in Raymond James were worth $325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Raymond James in the second quarter valued at $29,000. Covestor Ltd grew its position in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Smithfield Trust Co grew its position in shares of Raymond James by 105.0% in the first 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. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the first quarter valued at $33,000. Finally, FinTrust Capital Advisors LLC grew its position in shares of Raymond James by 46.9% in the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’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 in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’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 value of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RJF shares. JPMorgan Chase & Co. lowered their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. TD Cowen boosted 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. Wells Fargo & Company boosted their price target on Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group lowered their price target 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, Jefferies Financial Group boosted their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $133.36.

Raymond James Price Performance

Shares of NYSE RJF opened at $128.31 on Thursday. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The business has a 50-day moving average of $118.11 and a 200-day moving average of $120.62. 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 company has a market capitalization of $26.42 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.88 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is 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.