Wetzel Investment Advisors Inc. Cuts Stock Position in Raymond James (NYSE:RJF)

Wetzel Investment Advisors Inc. trimmed its position in shares of Raymond James (NYSE:RJF) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,029 shares of the financial services provider’s stock after selling 500 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Raymond James were worth $616,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RJF. Wolff Wiese Magana LLC raised its stake in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP purchased a new position in Raymond James in the second quarter worth $29,000. Smithfield Trust Co increased its position in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Raymond James by 77.0% during 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 last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James in the 3rd quarter worth $32,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now 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 can be accessed through this hyperlink. 9.74% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Bank of America lifted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley upped their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lifted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Price Performance

RJF stock opened at $144.29 on Monday. 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 business has a 50 day moving average price of $127.40 and a 200 day moving average price of $122.16. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 0.75 and a beta of 0.98. Raymond James has a fifty-two week low of $97.05 and a fifty-two week high of $151.59.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business 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 business’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.25%. Raymond James’s dividend payout ratio (DPR) is presently 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.