Bill Few Associates Inc. Raises Position in Raymond James (NYSE:RJF)

Bill Few Associates Inc. raised its holdings in Raymond James (NYSE:RJF) by 94.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,095 shares of the financial services provider’s stock after buying an additional 4,900 shares during the period. Bill Few Associates Inc.’s holdings in Raymond James were worth $1,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position in Raymond James by 36.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 2,328 shares during the period. Norden Group LLC boosted its position in Raymond James by 3,257.7% in the 1st quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock valued at $10,908,000 after buying an additional 82,419 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Raymond James by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock valued at $28,937,000 after buying an additional 11,427 shares during the period. Bessemer Group Inc. boosted its position in Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock valued at $2,445,000 after buying an additional 17,499 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Raymond James by 44.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock worth $2,260,000 after purchasing an additional 5,427 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RJF shares. Jefferies Financial Group lifted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. UBS Group decreased their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. decreased their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Finally, TD Cowen lifted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $133.36.

Insider Activity at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James Price Performance

Shares of NYSE:RJF opened at $133.14 on Wednesday. The company has a 50-day simple moving average of $119.80 and a 200-day simple moving average of $120.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a market capitalization of $27.42 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.88 and a beta of 1.02. Raymond James has a one year low of $91.67 and a one year high of $135.37.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the company posted $1.85 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts predict that Raymond James will post 9.57 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.35%. Raymond James’s dividend payout ratio (DPR) is presently 20.29%.

Raymond James Company Profile

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.