Wedmont Private Capital Purchases New Position in Raymond James (NYSE:RJF)

Wedmont Private Capital purchased a new stake in shares of Raymond James (NYSE:RJF) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,683 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RJF. Norges Bank bought a new stake in shares of Raymond James during the 4th quarter valued at approximately $238,830,000. Heritage Wealth Advisors grew its holdings in shares of Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock valued at $62,702,000 after purchasing an additional 474,622 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Raymond James by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after purchasing an additional 263,687 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of 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 valued at $25,388,000 after purchasing an additional 176,210 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of 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 purchasing an additional 174,286 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Raymond James

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 shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s 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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Raymond James Stock Up 1.5 %

Raymond James stock opened at $111.79 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The firm’s fifty day moving average is $116.54 and its 200 day moving average is $120.01. The company has a market capitalization of $23.02 billion, a PE ratio of 13.52, a PEG ratio of 0.75 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its earnings results 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 net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company earned $1.85 EPS. Raymond James’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a dividend of $0.45 per share. The ex-dividend date was Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.61%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Jefferies Financial Group lifted their target price on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Bank of America cut their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, TD Cowen lifted their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Ten 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.89.

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.