West Michigan Advisors LLC Sells 105 Shares of Raymond James (NYSE:RJF)

West Michigan Advisors LLC reduced its holdings in Raymond James (NYSE:RJF) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,620 shares of the financial services provider’s stock after selling 105 shares during the period. West Michigan Advisors LLC’s holdings in Raymond James were worth $1,056,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its position in Raymond James by 36.9% during the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock worth $1,109,000 after acquiring an additional 2,328 shares during the period. Norden Group LLC lifted its stake in shares of Raymond James by 3,257.7% in the first quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,419 shares during the period. State Board of Administration of Florida Retirement System grew its position in Raymond James by 5.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after buying an additional 11,427 shares in the last quarter. Bessemer Group Inc. grew its position in Raymond James by 1,138.5% during the first quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after buying an additional 17,499 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Raymond James by 44.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock valued at $2,260,000 after acquiring an additional 5,427 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Up 7.3 %

Shares of NYSE:RJF opened at $147.37 on Friday. Raymond James has a 52 week low of $91.67 and a 52 week high of $148.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The company’s fifty day moving average is $123.66 and its 200-day moving average is $121.26. The company has a market capitalization of $30.35 billion, a PE ratio of 16.61, a P/E/G ratio of 0.95 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the company earned $2.13 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.22%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s 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 transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s 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 transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group lowered their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group raised their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. TD Cowen upped their target price on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, Bank of America raised their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $137.36.

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.