Portside Wealth Group LLC Boosts Holdings in Raymond James (NYSE:RJF)

Portside Wealth Group LLC raised its stake in shares of Raymond James (NYSE:RJF) by 3.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,495 shares of the financial services provider’s stock after buying an additional 93 shares during the period. Portside Wealth Group LLC’s holdings in Raymond James were worth $306,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC raised its position in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP purchased a new position in shares of Raymond James during the 2nd quarter valued at approximately $29,000. Covestor Ltd lifted its stake in shares of Raymond James by 77.0% in the 1st 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. Future Financial Wealth Managment LLC purchased a new stake in Raymond James during the third quarter worth $32,000. Finally, Rothschild Investment LLC acquired a new stake in Raymond James during the second quarter valued at $62,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Up 1.5 %

RJF 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 firm has a 50-day moving average of $130.92 and a two-hundred day moving average of $123.19. Raymond James has a 12 month low of $98.72 and a 12 month high of $161.76. The company has a market cap of $32.69 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.81 and a beta of 0.99.

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

Raymond James Dividend Announcement

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

Analysts Set New Price Targets

RJF has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Bank of America lifted their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus price target of $140.91.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction on 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 $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.74% of the stock is currently owned by insiders.

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.