Sumitomo Mitsui DS Asset Management Company Ltd Has $2.55 Million Stake in Raymond James (NYSE:RJF)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Raymond James (NYSE:RJF) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,797 shares of the financial services provider’s stock after acquiring an additional 332 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Raymond James were worth $2,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RJF. Concurrent Investment Advisors LLC raised its holdings in shares of Raymond James by 36.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after purchasing an additional 2,328 shares during the period. Norden Group LLC lifted its position in shares of Raymond James by 3,257.7% in the first quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,419 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Raymond James by 5.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after acquiring an additional 11,427 shares during the period. Bessemer Group Inc. increased its holdings in shares of Raymond James by 1,138.5% during the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after acquiring an additional 17,499 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Raymond James by 44.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock valued at $2,260,000 after acquiring an additional 5,427 shares during the period. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of research analyst reports. JMP Securities upgraded shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price objective on the stock in a report on Wednesday, October 9th. Jefferies Financial Group upped their price target 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. Wells Fargo & Company raised their price objective on shares of Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen upped their target price 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, UBS Group dropped their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $133.36.

Raymond James Stock Up 0.3 %

Shares of NYSE RJF opened at $138.51 on Monday. The stock has a market capitalization of $28.52 billion, a P/E ratio of 15.62, a PEG ratio of 0.90 and a beta of 1.02. The stock’s fifty day moving average is $121.53 and its 200 day moving average is $120.90. Raymond James has a 52 week low of $91.67 and a 52 week high of $139.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last released its earnings results 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. The firm had revenue of $3.23 billion for 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 business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. Sell-side analysts forecast that Raymond James will post 9.57 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.30%. Raymond James’s dividend payout ratio is currently 20.29%.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James 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 transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

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.