Xact Kapitalforvaltning AB cut its position in Raymond James (NYSE:RJF) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,695 shares of the financial services provider’s stock after selling 1,400 shares during the period. Xact Kapitalforvaltning AB’s holdings in Raymond James were worth $2,457,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RJF. Willingdon Wealth Management acquired a new stake in Raymond James in the second quarter worth $112,000. Rehmann Capital Advisory Group raised its holdings in Raymond James by 57.7% in the second quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 530 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Raymond James in the second quarter worth $135,000. CENTRAL TRUST Co raised its holdings in Raymond James by 59.9% in the third quarter. CENTRAL TRUST Co now owns 1,868 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 700 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in Raymond James in the second quarter worth $183,000. Institutional investors own 71.41% of the company’s stock.
Shares of NYSE:RJF opened at $76.69 on Thursday. Raymond James has a 12 month low of $71.93 and a 12 month high of $102.17. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. The firm has a market cap of $10.79 billion, a P/E ratio of 11.85, a P/E/G ratio of 0.58 and a beta of 1.67.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 28th. This represents a $1.20 annualized dividend and a yield of 1.56%. Raymond James’s payout ratio is currently 18.55%.
In other Raymond James news, insider Tashtego S. Elwyn purchased 1,500 shares of the stock in a transaction on Monday, October 29th. The shares were purchased at an average cost of $73.75 per share, for a total transaction of $110,625.00. Following the purchase, the insider now owns 12,055 shares of the company’s stock, valued at $889,056.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President John C. Jr. Carson sold 5,698 shares of Raymond James stock in a transaction on Monday, September 10th. The shares were sold at an average price of $92.66, for a total transaction of $527,976.68. The disclosure for this sale can be found here. 10.46% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Raymond James from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Thursday, October 4th. Credit Suisse Group dropped their price objective on shares of Raymond James from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Citigroup lowered shares of Raymond James from a “buy” rating to a “neutral” rating in a report on Friday, October 26th. Wells Fargo & Co dropped their price objective on shares of Raymond James from $111.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Finally, Buckingham Research dropped their price objective on shares of Raymond James from $117.00 to $111.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $104.00.
About Raymond James
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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