Wedbush Securities Inc. Purchases 651 Shares of Raymond James (NYSE:RJF)

Wedbush Securities Inc. boosted its stake in shares of Raymond James (NYSE:RJF) by 16.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,613 shares of the financial services provider’s stock after buying an additional 651 shares during the period. Wedbush Securities Inc.’s holdings in Raymond James were worth $426,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in RJF. Harvest Fund Management Co. Ltd acquired a new stake in Raymond James during the 2nd quarter worth approximately $32,000. Parallel Advisors LLC raised its holdings in Raymond James by 61.3% during the 2nd quarter. Parallel Advisors LLC now owns 300 shares of the financial services provider’s stock worth $39,000 after buying an additional 114 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Raymond James during the 2nd quarter worth approximately $46,000. Penserra Capital Management LLC raised its holdings in Raymond James by 31.6% during the 2nd quarter. Penserra Capital Management LLC now owns 404 shares of the financial services provider’s stock worth $52,000 after buying an additional 97 shares during the period. Finally, Ameritas Investment Company LLC acquired a new stake in shares of Raymond James in the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Raymond James from a “buy” rating to a “hold” rating and set a $96.00 price objective on the stock. in a report on Friday, September 24th. Morgan Stanley lifted their price objective on shares of Raymond James from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 29th. Jefferies Financial Group assumed coverage on shares of Raymond James in a report on Thursday, October 21st. They issued a “buy” rating and a $111.00 price objective on the stock. JMP Securities lifted their price objective on shares of Raymond James from $103.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, October 21st. Finally, Citigroup lowered their price objective on shares of Raymond James from $143.33 to $136.67 and set a “buy” rating on the stock in a report on Tuesday, August 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Buy” and an average target price of $99.67.

In other Raymond James news, insider James E. Bunn sold 15,166 shares of Raymond James stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $100.73, for a total transaction of $1,527,671.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.68% of the company’s stock.

RJF stock opened at $102.50 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.97 and a quick ratio of 0.96. The company has a fifty day moving average price of $98.99 and a two-hundred day moving average price of $92.24. Raymond James has a one year low of $60.39 and a one year high of $103.46. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 15.45 and a beta of 1.22.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 27th. The financial services provider reported $2.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.35. Raymond James had a net margin of 14.16% and a return on equity of 19.47%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. Research analysts anticipate that Raymond James will post 6.78 EPS for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Tuesday, September 21st. Shareholders of record on Thursday, September 23rd were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, September 22nd. This represents a yield of 1.16%. Raymond James’s dividend payout ratio (DPR) is 15.68%.

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.

Further Reading: What is a stock buyback?

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

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