Wetzel Investment Advisors Inc. Sells 500 Shares of Raymond James (NYSE:RJF)

Wetzel Investment Advisors Inc. decreased its stake in Raymond James (NYSE:RJF) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,029 shares of the financial services provider’s stock after selling 500 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in Raymond James were worth $616,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RJF. Wolff Wiese Magana LLC increased its holdings in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP purchased a new stake in shares of Raymond James in the second quarter worth $29,000. Covestor Ltd raised its position in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Smithfield Trust Co lifted its stake in shares of 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 buying an additional 126 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James during the 3rd quarter valued at $32,000. Institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s 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 transaction, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. JMP Securities increased their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. UBS Group dropped their target price 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. Finally, Jefferies Financial Group lifted their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $140.91.

Raymond James Trading Down 2.7 %

Shares of RJF opened at $144.29 on Monday. Raymond James has a twelve month low of $97.05 and a twelve month high of $151.59. 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 company’s fifty day simple moving average is $127.40 and its 200-day simple moving average is $122.16. The company has a market cap of $29.72 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.75 and a beta of 0.98.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. As a group, analysts expect that Raymond James will post 10.73 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.25%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

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.