Janney Montgomery Scott LLC Sells 1,772 Shares of Raymond James (NYSE:RJF)

Janney Montgomery Scott LLC cut its stake in shares of Raymond James (NYSE:RJF) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,846 shares of the financial services provider’s stock after selling 1,772 shares during the period. Janney Montgomery Scott LLC’s holdings in Raymond James were worth $4,267,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of RJF. Concurrent Investment Advisors LLC increased its holdings in Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after buying an additional 2,328 shares during the last quarter. State Board of Administration of Florida Retirement System increased 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 purchasing an additional 11,427 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock valued at $2,445,000 after purchasing an additional 17,499 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted 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 purchasing an additional 5,427 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in Raymond James by 37.3% during the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after purchasing an additional 8,507 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group raised their price target on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Morgan Stanley raised their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company lifted their target price on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Raymond James currently has a consensus rating of “Hold” and an average price target of $140.91.

Raymond James Stock Performance

Shares of Raymond James stock opened at $158.73 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The company has a market cap of $32.69 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. The company has a 50 day moving average of $130.92 and a 200-day moving average of $123.19. Raymond James has a 1-year low of $98.72 and a 1-year high of $161.76.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the company earned $2.13 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts forecast that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.13%. The ex-dividend date was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

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.