CX Institutional Purchases 375 Shares of Raymond James (NYSE:RJF)

CX Institutional lifted its position in shares of Raymond James (NYSE:RJF) by 20.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,220 shares of the financial services provider’s stock after buying an additional 375 shares during the quarter. CX Institutional’s holdings in Raymond James were worth $274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James during the fourth quarter valued at $30,000. Smithfield Trust Co grew its position 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 buying an additional 126 shares during the last quarter. Covestor Ltd increased its stake 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 buying an additional 104 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Raymond James in the fourth quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the first quarter worth about $33,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

RJF has been the subject of a number of recent analyst reports. TD Cowen increased their target price on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Citigroup lifted their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods cut their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, Jefferies Financial Group boosted their target price on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $129.89.

Raymond James Trading Up 1.0 %

RJF stock traded up $1.13 during midday trading on Friday, hitting $110.04. The company had a trading volume of 301,760 shares, compared to its average volume of 1,146,020. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.74 and a beta of 1.02. The stock’s 50 day moving average price is $117.15 and its 200 day moving average price is $119.98.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.67%. During the same quarter in the prior year, the company posted $1.85 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Monday, July 1st. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.74% of the company’s stock.

About Raymond James

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.