Oregon Public Employees Retirement Fund lessened its stake in Raymond James (NYSE:RJF) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,893 shares of the financial services provider’s stock after selling 700 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Raymond James were worth $750,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Synovus Financial Corp grew its position in Raymond James by 397.4% in the 1st quarter. Synovus Financial Corp now owns 771 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 616 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Raymond James by 25.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 860 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 175 shares during the last quarter. First Bank & Trust boosted its stake in shares of Raymond James by 143.0% during the 1st quarter. First Bank & Trust now owns 1,125 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 662 shares during the last quarter. Squar Milner Financial Services LLC boosted its stake in shares of Raymond James by 24.4% during the 1st quarter. Squar Milner Financial Services LLC now owns 1,219 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 239 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Raymond James by 49.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,273 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 424 shares during the last quarter. 74.24% of the stock is owned by institutional investors and hedge funds.
In other Raymond James news, VP Jeffrey P. Julien sold 9,150 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $81.58, for a total value of $746,457.00. Following the sale, the vice president now owns 42,092 shares in the company, valued at approximately $3,433,865.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan N. Santelli sold 1,250 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $81.33, for a total transaction of $101,662.50. Following the completion of the sale, the executive vice president now owns 2,503 shares in the company, valued at approximately $203,568.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,400 shares of company stock worth $1,673,420. Corporate insiders own 10.82% of the company’s stock.
RJF opened at $69.48 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.06. Raymond James has a fifty-two week low of $54.21 and a fifty-two week high of $102.45. The firm’s fifty day moving average is $70.16 and its 200 day moving average is $74.62. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 11.24 and a beta of 1.38.
Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $0.97 by $0.26. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Raymond James had a net margin of 10.75% and a return on equity of 13.15%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.80 EPS. On average, equities research analysts predict that Raymond James will post 5.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.13%. The ex-dividend date was Tuesday, June 30th. Raymond James’s payout ratio is currently 20.00%.
Several brokerages have recently weighed in on RJF. Credit Suisse Group lifted their price target on shares of Raymond James from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday. Seaport Global Securities began coverage on shares of Raymond James in a research note on Wednesday, July 8th. They set a “neutral” rating on the stock. Wells Fargo & Co lifted their price target on shares of Raymond James from $61.00 to $63.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Zacks Investment Research cut shares of Raymond James from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a research note on Wednesday, July 22nd. Finally, JMP Securities lowered their target price on shares of Raymond James from $106.00 to $84.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $73.86.
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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