Worldquant Millennium Advisors LLC Buys Shares of 236,693 Raymond James (NYSE:RJF)

Worldquant Millennium Advisors LLC purchased a new position in shares of Raymond James (NYSE:RJF) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 236,693 shares of the financial services provider’s stock, valued at approximately $28,985,000. Worldquant Millennium Advisors LLC owned approximately 0.11% of Raymond James at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after buying an additional 7,028 shares in the last quarter. XTX Topco Ltd increased its holdings in Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 6,649 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James during the third quarter valued at approximately $3,561,000. Wealth Enhancement Advisory Services LLC boosted its stake in Raymond James by 105.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after purchasing an additional 15,940 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Raymond James by 529.4% in the 1st quarter. Cetera Investment Advisers now owns 21,656 shares of the financial services provider’s stock worth $2,781,000 after acquiring an additional 18,215 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RJF shares. TD Cowen boosted their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group raised their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $140.91.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,621 shares of company stock valued at $9,134,788 over the last quarter. Corporate insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $163.39 on Friday. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The stock has a market capitalization of $33.34 billion, a PE ratio of 16.83, a P/E/G ratio of 0.97 and a beta of 1.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $148.77 and a two-hundred day moving average of $128.76.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the company earned $2.13 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts predict that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is 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.