1,507 Shares in Raymond James (RJF) Purchased by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC bought a new stake in Raymond James (NYSE:RJF) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,507 shares of the financial services provider’s stock, valued at approximately $135,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Raymond James by 1.9% in the 1st quarter. BlackRock Inc. now owns 8,647,915 shares of the financial services provider’s stock worth $773,210,000 after acquiring an additional 164,613 shares during the period. Wells Fargo & Company MN lifted its position in shares of Raymond James by 4.9% in the 1st quarter. Wells Fargo & Company MN now owns 4,199,384 shares of the financial services provider’s stock worth $375,467,000 after acquiring an additional 197,156 shares during the period. Millennium Management LLC lifted its position in shares of Raymond James by 75.1% in the 1st quarter. Millennium Management LLC now owns 1,140,478 shares of the financial services provider’s stock worth $101,970,000 after acquiring an additional 489,310 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Raymond James by 1.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 863,748 shares of the financial services provider’s stock worth $77,228,000 after acquiring an additional 12,337 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Raymond James by 4.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 649,164 shares of the financial services provider’s stock worth $58,042,000 after acquiring an additional 26,383 shares during the period. 70.77% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James stock opened at $89.12 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market cap of $13.13 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.80 and a beta of 1.67. Raymond James has a one year low of $74.14 and a one year high of $102.17.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.17). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.83 billion. Raymond James had a return on equity of 15.66% and a net margin of 10.87%. Raymond James’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. equities research analysts forecast that Raymond James will post 6.6 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 16th. Investors of record on Monday, July 2nd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, June 29th. This is an increase from Raymond James’s previous quarterly dividend of $0.25. Raymond James’s dividend payout ratio (DPR) is 22.94%.

A number of analysts have commented on the company. Zacks Investment Research downgraded Raymond James from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Citigroup raised their price objective on Raymond James from $95.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, June 15th. JMP Securities upgraded Raymond James from a “market perform” rating to an “outperform” rating in a research report on Friday, July 27th. ValuEngine downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Finally, Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Raymond James has a consensus rating of “Buy” and an average target price of $103.75.

In related news, EVP Jonathan N. Santelli sold 2,270 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $96.99, for a total transaction of $220,167.30. Following the completion of the transaction, the executive vice president now owns 3,000 shares in the company, valued at approximately $290,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.46% of the stock is owned by company insiders.

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.

Featured Article: Outstanding Shares

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

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