GYL Financial Synergies LLC purchased a new stake in shares of Raymond James (NYSE:RJF) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,679 shares of the financial services provider’s stock, valued at approximately $1,663,000.
Other institutional investors have also recently made changes to their positions in the company. Andra AP fonden acquired a new stake in Raymond James in the 1st quarter worth approximately $5,548,000. Wealthfront Advisers LLC acquired a new stake in Raymond James in the 1st quarter worth approximately $211,000. Trexquant Investment LP acquired a new stake in Raymond James in the 1st quarter worth approximately $2,779,000. Duality Advisers LP acquired a new stake in Raymond James in the 1st quarter worth approximately $1,363,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Raymond James by 41.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 5,476 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 70.06% of the company’s stock.
Shares of RJF traded down $1.19 on Wednesday, reaching $83.04. 11,945 shares of the stock traded hands, compared to its average volume of 934,244. The stock has a market cap of $12.07 billion, a PE ratio of 12.83 and a beta of 1.59. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Raymond James has a 12 month low of $69.11 and a 12 month high of $100.42.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, June 28th. Raymond James’s dividend payout ratio is presently 21.02%.
Several research analysts have commented on the company. Argus reaffirmed a “buy” rating on shares of Raymond James in a research report on Tuesday, April 30th. Citigroup lifted their price target on Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. ValuEngine raised Raymond James from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Wells Fargo & Co lifted their price target on Raymond James from $92.00 to $94.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, Zacks Investment Research raised Raymond James from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Raymond James presently has a consensus rating of “Buy” and an average price target of $94.63.
In other news, CEO Paul C. Reilly sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $91.35, for a total transaction of $5,481,000.00. Following the sale, the chief executive officer now directly owns 80,382 shares in the company, valued at $7,342,895.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven M. Raney sold 2,926 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $90.60, for a total value of $265,095.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,881 shares of company stock worth $10,012,987. 10.74% of the stock is currently owned by company insiders.
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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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