Raymond James (NYSE:RJF) Shares Sold by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. decreased its position in Raymond James (NYSE:RJF) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,264 shares of the financial services provider’s stock after selling 317 shares during the quarter. Dock Street Asset Management Inc.’s holdings in Raymond James were worth $522,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RJF. Wedmont Private Capital increased its holdings in Raymond James by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 86 shares in the last quarter. Private Advisor Group LLC lifted its stake in Raymond James by 3.6% during the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC lifted its stake in shares of Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after acquiring an additional 96 shares during the last quarter. Covestor Ltd increased its holdings in Raymond James by 77.0% in the first 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 period. Finally, Retirement Systems of Alabama raised its position in shares of Raymond James by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock worth $5,332,000 after acquiring an additional 107 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred 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 directly owns 75,586 shares in the company, valued at $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $3,429,210.28. Following 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 ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RJF shares. TD Cowen boosted their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Wells Fargo & Company upped their price target on shares of Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group reduced their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Finally, JMP Securities upgraded shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price target on the stock in a research note on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $133.36.

Raymond James Trading Down 0.8 %

Shares of RJF stock traded down $1.16 during trading hours on Tuesday, hitting $136.34. 197,477 shares of the company were exchanged, compared to its average volume of 1,124,870. Raymond James has a 1 year low of $91.67 and a 1 year high of $139.40. The firm has a fifty day moving average of $122.08 and a 200 day moving average of $120.91. 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 firm has a market cap of $28.08 billion, a PE ratio of 15.38, a PEG ratio of 0.96 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping 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 firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Analysts expect that Raymond James will post 9.55 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.32%. Raymond James’s dividend payout ratio (DPR) is presently 20.29%.

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.