Raymond James (NYSE:RJF) Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. cut its holdings in shares of Raymond James (NYSE:RJF) by 6.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 151,779 shares of the financial services provider’s stock after selling 9,815 shares during the period. Raymond James makes up about 1.4% of Avity Investment Management Inc.’s portfolio, making the stock its 28th largest holding. Avity Investment Management Inc. owned 0.07% of Raymond James worth $18,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AGF Management Ltd. lifted its stake in Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after buying an additional 378,033 shares in the last quarter. Earnest Partners LLC lifted its stake in Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after purchasing an additional 37,173 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Raymond James by 1.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock worth $273,919,000 after purchasing an additional 25,494 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Raymond James by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock worth $250,238,000 after purchasing an additional 113,826 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Raymond James by 2.1% in the 2nd quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock worth $216,153,000 after purchasing an additional 38,695 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Up 2.5 %

Shares of NYSE:RJF traded up $3.22 during trading on Friday, hitting $129.96. The company’s stock had a trading volume of 1,094,628 shares, compared to its average volume of 1,110,966. The business has a 50 day moving average price of $118.82 and a two-hundred day moving average price of $120.69. The company has a market capitalization of $26.76 billion, a PE ratio of 14.65, a P/E/G ratio of 0.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. 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 posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 earnings per share. As a group, research analysts expect that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RJF. Wells Fargo & Company raised their target price on shares of Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. decreased 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 note on Thursday, July 25th. The Goldman Sachs Group decreased their target price on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, Jefferies Financial Group lifted their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $133.36.

Insider Transactions at Raymond James

In other 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.