V Square Quantitative Management LLC Cuts Stake in Raymond James (NYSE:RJF)

V Square Quantitative Management LLC decreased its stake in Raymond James (NYSE:RJF) by 9.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,116 shares of the financial services provider’s stock after selling 425 shares during the quarter. V Square Quantitative Management LLC’s holdings in Raymond James were worth $509,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Raymond James during the fourth quarter valued at approximately $238,830,000. Heritage Wealth Advisors boosted its position in Raymond James by 3,480.7% in the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after buying an additional 474,622 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Raymond James by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock worth $204,335,000 after acquiring an additional 263,687 shares in the last quarter. SG Americas Securities LLC increased its holdings in Raymond James by 820.2% during the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after purchasing an additional 176,210 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Raymond James by 27.4% during the 4th quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after acquiring an additional 174,286 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Performance

RJF stock opened at $114.91 on Thursday. The company has a market capitalization of $23.66 billion, a P/E ratio of 13.89, a PEG ratio of 0.75 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $116.42 and a 200 day simple moving average of $119.98. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period last year, the firm earned $1.85 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts predict that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s payout ratio is 21.77%.

Wall Street Analyst Weigh In

RJF has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their target price on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. UBS Group lowered their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, TD Cowen lifted their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average target price of $129.89.

Insider Activity

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction dated 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 approximately $8,692,390. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction 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 completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s 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. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

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.