Y Intercept Hong Kong Ltd purchased a new position in Raymond James (NYSE:RJF - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,783 shares of the financial services provider's stock, valued at approximately $463,000.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Wolff Wiese Magana LLC lifted its holdings in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP bought a new position in shares of Raymond James during the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James during the 3rd quarter worth approximately $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James in the 3rd quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. acquired a new position in Raymond James during the 3rd quarter valued at approximately $37,000. 83.83% of the stock is owned by institutional investors and hedge funds.
RJF opened at $160.49 on Monday. The business has a 50 day moving average price of $152.45 and a two-hundred day moving average price of $130.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market capitalization of $32.75 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38.
Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the business earned $2.13 EPS. The company's quarterly revenue was up 13.4% compared to the same quarter last year. Research analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. This is an increase from Raymond James's previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. Raymond James's dividend payout ratio is presently 18.54%.
Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. JMP Securities lifted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a "market outperform" rating in a research report on Thursday, October 24th. Morgan Stanley upped their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 29th. Jefferies Financial Group lifted their price target on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a report on Friday, October 4th. Finally, Bank of America boosted their price objective on Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of "Hold" and an average target price of $142.45.
View Our Latest Stock Report on Raymond James
In other news, CEO Paul C. Reilly sold 50,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 283,110 shares of the company's stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bella Loykhter Allaire sold 3,451 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now directly owns 80,421 shares of the company's stock, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,621 shares of company stock worth $9,134,788. Corporate insiders own 9.74% of the company's stock.
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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