Wilmington Savings Fund Society FSB Acquires 1,026 Shares of Raymond James (NYSE:RJF)

Wilmington Savings Fund Society FSB grew its stake in shares of Raymond James (NYSE:RJF) by 1.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 67,439 shares of the financial services provider’s stock after purchasing an additional 1,026 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Raymond James were worth $8,259,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of RJF. Wellington Management Group LLP raised its holdings in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. State Street Corp grew its position in Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after purchasing an additional 54,265 shares in the last quarter. Geode Capital Management LLC increased its stake in Raymond James by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after buying an additional 12,869 shares during the last quarter. AGF Management Ltd. lifted its position in shares of Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after buying an additional 378,033 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of 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 buying an additional 37,173 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $169.00 price target (up from $152.00) on shares of Raymond James in a research report on Thursday. Bank of America raised their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JMP Securities boosted their price target on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $142.45.

Insiders Place Their Bets

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,621 shares of company stock worth $9,134,788 in the last ninety days. 9.74% of the stock is currently owned by insiders.

Raymond James Price Performance

Raymond James stock opened at $160.37 on Friday. The business has a fifty day moving average price of $151.78 and a 200-day moving average price of $129.78. Raymond James has a one year low of $104.24 and a one year high of $171.38. The firm has a market capitalization of $32.72 billion, a P/E ratio of 16.52, a PEG ratio of 0.94 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last issued its quarterly earnings data 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. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.13 earnings per share. As a group, equities research analysts forecast that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.25%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s payout ratio is presently 18.54%.

Raymond James Company 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.