B. Riley Wealth Advisors Inc. Lowers Position in Raymond James (NYSE:RJF)

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Raymond James (NYSE:RJF) by 14.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,490 shares of the financial services provider’s stock after selling 894 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Raymond James were worth $675,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in Raymond James by 5.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,848 shares of the financial services provider’s stock worth $599,000 after buying an additional 256 shares during the period. &PARTNERS bought a new stake in Raymond James during the second quarter valued at about $314,000. New York State Teachers Retirement System grew its stake in Raymond James by 4.6% in the second quarter. New York State Teachers Retirement System now owns 224,518 shares of the financial services provider’s stock valued at $27,753,000 after purchasing an additional 9,852 shares during the last quarter. Family Firm Inc. bought a new position in Raymond James in the second quarter worth about $69,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after buying an additional 96 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RJF. Morgan Stanley increased their target price on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group boosted their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. TD Cowen increased their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Bank of America lifted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $142.45.

Raymond James Trading Down 3.5 %

Shares of Raymond James stock opened at $152.42 on Thursday. The stock has a market cap of $31.10 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The firm has a fifty day moving average price of $154.29 and a 200 day moving average price of $130.79. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 EPS. Equities research analysts predict that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. Raymond James’s payout ratio is 20.60%.

Insider Activity at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock worth $10,729,488 in the last three months. Company insiders own 9.74% of the company’s stock.

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.