CWA Asset Management Group LLC Makes New Investment in Raymond James (NYSE:RJF)

CWA Asset Management Group LLC purchased a new stake in Raymond James (NYSE:RJF) during the 3rd quarter, Holdings Channel reports. The firm purchased 75,069 shares of the financial services provider’s stock, valued at approximately $9,193,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital increased its position in shares of Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 86 shares during the last quarter. Private Advisor Group LLC lifted its stake in Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 93 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC increased its stake in shares of Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 96 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Up 1.5 %

NYSE:RJF opened at $158.73 on Friday. Raymond James has a one year low of $98.72 and a one year high of $161.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market cap of $32.69 billion, a PE ratio of 16.35, a P/E/G ratio of 0.81 and a beta of 0.99. The firm’s 50 day simple moving average is $130.92 and its 200 day simple moving average is $123.22.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the business earned $2.13 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts anticipate that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

Insider Activity

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this link. 9.74% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. The Goldman Sachs Group increased their price target on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Bank of America raised their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $140.91.

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.