Fiera Capital Corp Acquires 16,670 Shares of Raymond James (NYSE:RJF)

Fiera Capital Corp boosted its holdings in Raymond James (NYSE:RJF) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 456,281 shares of the financial services provider’s stock after purchasing an additional 16,670 shares during the period. Fiera Capital Corp owned about 0.22% of Raymond James worth $56,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RJF. Norges Bank bought a new position in shares of Raymond James in the 4th quarter valued at about $238,830,000. Heritage Wealth Advisors grew its stake in Raymond James by 3,480.7% in the first 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 in the last quarter. Dimensional Fund Advisors LP increased its position 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 worth $204,335,000 after purchasing an additional 263,687 shares during the last quarter. SG Americas Securities LLC raised its stake 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 worth $25,388,000 after purchasing an additional 176,210 shares in the last quarter. Finally, Sei Investments Co. raised its stake 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 worth $90,273,000 after purchasing an additional 174,286 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RJF shares. UBS Group lowered their target price 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. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. TD Cowen raised 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. Jefferies Financial Group boosted their price target on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Ten research 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 an average target price of $129.89.

Raymond James Price Performance

Shares of NYSE RJF opened at $119.57 on Tuesday. The firm has a market cap of $24.62 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. The business’s 50 day moving average is $115.95 and its 200-day moving average is $120.37. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the business earned $1.85 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts predict that Raymond James will post 9.57 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.51%. Raymond James’s payout ratio is presently 21.77%.

Insider Transactions at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were 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 directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

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.