Raymond James Trust N.A. Trims Stake in Raymond James (NYSE:RJF)

Raymond James Trust N.A. cut its stake in Raymond James (NYSE:RJFGet Rating) by 13.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,108 shares of the financial services provider’s stock after selling 7,237 shares during the period. Raymond James Trust N.A.’s holdings in Raymond James were worth $4,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its position in Raymond James by 10.8% in the second quarter. Private Advisor Group LLC now owns 3,667 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 356 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Raymond James by 5.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 3,905 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 204 shares in the last quarter. Schneider Downs Wealth Management Advisors LP purchased a new position in Raymond James in the second quarter worth $807,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Raymond James by 17.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,663 shares of the financial services provider’s stock worth $1,222,000 after acquiring an additional 2,029 shares in the last quarter. Finally, Peterson Wealth Services grew its position in Raymond James by 3.0% in the second quarter. Peterson Wealth Services now owns 41,399 shares of the financial services provider’s stock worth $3,702,000 after acquiring an additional 1,207 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

Shares of RJF opened at $105.42 on Friday. The stock has a market cap of $22.75 billion, a PE ratio of 15.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 0.97. Raymond James has a fifty-two week low of $84.86 and a fifty-two week high of $117.37. The firm’s 50-day simple moving average is $103.54 and its two-hundred day simple moving average is $100.19.

Raymond James (NYSE:RJFGet Rating) last issued its earnings results on Wednesday, July 27th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 13.58%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts anticipate that Raymond James will post 7.43 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 1.29%. Raymond James’s dividend payout ratio is currently 19.37%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of Raymond James from $108.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, August 26th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Morgan Stanley cut their price target on shares of Raymond James from $138.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 4,000 shares of Raymond James stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $106.75, for a total value of $427,000.00. Following the completion of the transaction, the insider now directly owns 21,096 shares of the company’s stock, valued at approximately $2,251,998. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.25% of the stock is currently owned by insiders.

About Raymond James

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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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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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