Stablepoint Partners LLC Grows Position in Raymond James (NYSE:RJF)

Stablepoint Partners LLC increased its holdings in Raymond James (NYSE:RJF) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,578 shares of the financial services provider’s stock after purchasing an additional 341 shares during the period. Stablepoint Partners LLC’s holdings in Raymond James were worth $1,785,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. V Square Quantitative Management LLC increased its holdings in Raymond James by 24.0% during the 4th quarter. V Square Quantitative Management LLC now owns 4,541 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 879 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Raymond James by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,181 shares of the financial services provider’s stock valued at $2,696,000 after purchasing an additional 211 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Raymond James during the 4th quarter valued at about $1,961,000. HighPoint Advisor Group LLC acquired a new position in shares of Raymond James during the 4th quarter worth approximately $179,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Raymond James during the fourth quarter worth about $421,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Up 0.1 %

Shares of RJF traded up $0.19 during midday trading on Monday, hitting $130.14. The company had a trading volume of 110,771 shares, compared to its average volume of 1,105,921. The company’s 50 day moving average price is $118.82 and its 200 day moving average price is $120.61. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The stock has a market cap of $26.80 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.88 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

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

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

Insider Transactions at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This trade represents 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 insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RJF. TD Cowen upped their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. The Goldman Sachs Group lowered their target price on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. JMP Securities upgraded Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price objective on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target 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. Finally, Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.36.

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.