Congress Asset Management Co. Has $119.47 Million Position in Raymond James (NYSE:RJF)

Congress Asset Management Co. grew its holdings in shares of Raymond James (NYSE:RJF) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 975,601 shares of the financial services provider’s stock after purchasing an additional 78,202 shares during the quarter. Congress Asset Management Co. owned about 0.47% of Raymond James worth $119,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC boosted its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the period. Quarry LP bought a new stake in Raymond James during the second quarter worth about $29,000. Smithfield Trust Co increased its holdings in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares in the last quarter. Covestor Ltd increased its stake in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in Raymond James during the 3rd quarter worth about $32,000. 83.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RJF. Bank of America upped their price objective on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JMP Securities upped their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Morgan Stanley lifted their price target 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. UBS Group dropped their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group lifted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average price target of $140.91.

Insider Transactions at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 9.74% of the stock is owned by company insiders.

Raymond James Stock Up 0.4 %

Shares of NYSE RJF traded up $0.66 during mid-day trading on Thursday, hitting $149.71. The company had a trading volume of 177,024 shares, compared to its average volume of 1,134,977. Raymond James has a one year low of $94.53 and a one year high of $151.59. The company has a market capitalization of $30.83 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a 50-day simple moving average of $126.21 and a two-hundred day simple moving average of $121.82.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.13 EPS. On average, equities analysts expect that Raymond James will post 10.32 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

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.