Raymond James (NYSE:RJF) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. raised its holdings in shares of Raymond James (NYSE:RJF) by 31.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,510 shares of the financial services provider’s stock after purchasing an additional 830 shares during the quarter. Blue Trust Inc.’s holdings in Raymond James were worth $451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RJF. International Assets Investment Management LLC increased its holdings in Raymond James by 4,941.7% during the 4th quarter. International Assets Investment Management LLC now owns 5,798 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 5,683 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Raymond James during the 4th quarter worth approximately $328,000. Cerity Partners LLC purchased a new stake in Raymond James during the 4th quarter worth approximately $1,354,000. NewEdge Wealth LLC purchased a new stake in Raymond James during the 4th quarter worth approximately $265,000. Finally, Simplicity Solutions LLC increased its holdings in Raymond James by 9.2% during the 4th quarter. Simplicity Solutions LLC now owns 2,560 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 216 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’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 transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was 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 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 insiders.

Raymond James Stock Performance

NYSE:RJF traded up $0.68 during midday trading on Friday, reaching $115.95. 722,052 shares of the company traded hands, compared to its average volume of 1,147,734. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The firm has a market capitalization of $24.03 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a fifty day moving average price of $116.24 and a 200 day moving average price of $119.97.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.55%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RJF shares. Jefferies Financial Group lifted their price objective on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods decreased their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. TD Cowen lifted their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, Bank of America decreased their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $129.89.

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.