American International Group Inc. raised its stake in shares of Raymond James (NYSE:RJF) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,157 shares of the financial services provider’s stock after buying an additional 3,321 shares during the quarter. American International Group Inc.’s holdings in Raymond James were worth $4,801,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Raymond James by 8.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 408,967 shares of the financial services provider’s stock valued at $36,541,000 after buying an additional 33,257 shares during the last quarter. Toronto Dominion Bank grew its holdings in Raymond James by 19.6% during the 2nd quarter. Toronto Dominion Bank now owns 83,577 shares of the financial services provider’s stock valued at $7,466,000 after buying an additional 13,694 shares during the last quarter. We Are One Seven LLC acquired a new stake in Raymond James during the 3rd quarter valued at $344,000. Global Financial Private Capital LLC acquired a new stake in Raymond James during the 3rd quarter valued at $268,000. Finally, NumerixS Investment Technologies Inc grew its holdings in Raymond James by 332.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 12,100 shares of the financial services provider’s stock valued at $1,095,000 after buying an additional 9,300 shares during the last quarter. Hedge funds and other institutional investors own 72.74% of the company’s stock.
Shares of Raymond James stock opened at $75.38 on Friday. Raymond James has a fifty-two week low of $71.93 and a fifty-two week high of $102.17. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.60 and a beta of 1.74. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.10 and a current ratio of 1.13.
Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.13). Raymond James had a return on equity of 15.72% and a net margin of 11.46%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Analysts expect that Raymond James will post 7.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Thursday, January 3rd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.30. Raymond James’s dividend payout ratio is currently 18.55%.
RJF has been the topic of a number of analyst reports. Zacks Investment Research upgraded Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Wolfe Research initiated coverage on Raymond James in a report on Tuesday, September 25th. They set an “outperform” rating on the stock. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Citigroup cut Raymond James from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Finally, Wells Fargo & Co lowered their target price on Raymond James from $111.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Raymond James presently has a consensus rating of “Hold” and an average price target of $100.63.
In other Raymond James news, President John C. Jr. Carson sold 5,698 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $92.66, for a total transaction of $527,976.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP George Catanese sold 6,611 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $78.71, for a total value of $520,351.81. Following the transaction, the senior vice president now directly owns 6,180 shares in the company, valued at approximately $486,427.80. The disclosure for this sale can be found here. Corporate insiders own 10.46% of the company’s stock.
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.
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