Raymond James Trust N.A. Increases Stock Position in Raymond James (NYSE:RJF)

Raymond James Trust N.A. grew its stake in shares of Raymond James (NYSE:RJF) by 10.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 202,221 shares of the financial services provider’s stock after buying an additional 18,968 shares during the period. Raymond James Trust N.A. owned 0.10% of Raymond James worth $24,997,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Drive Wealth Management LLC boosted its position in Raymond James by 3.4% during the 1st quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 85 shares during the period. Private Advisor Group LLC raised 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 acquiring an additional 93 shares during the period. Federated Hermes Inc. raised its stake in Raymond James by 12.4% during the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 96 shares during the period. Gilliland Jeter Wealth Management LLC raised its stake in Raymond James by 1.6% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 96 shares during the period. Finally, Oarsman Capital Inc. grew its position in Raymond James by 0.9% in the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 99 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group upped 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. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. UBS Group decreased their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. TD Cowen increased their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $129.89.

Raymond James Price Performance

RJF stock traded up $0.58 on Friday, hitting $116.79. 633,478 shares of the company’s stock traded hands, compared to its average volume of 1,134,919. The stock has a fifty day moving average of $116.08 and a 200-day moving average of $120.18. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a market cap of $24.05 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 0.79 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted 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 analyst estimates of $3.24 billion. During the same quarter last year, the business posted $1.85 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Tuesday, October 1st. Raymond James’s dividend payout ratio is 21.77%.

Insider Buying and Selling

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 of the company’s stock, valued at approximately $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James 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 of the company’s stock, valued at approximately $8,692,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief executive officer now directly 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. Company 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.