Nissay Asset Management Corp Japan ADV lifted its holdings in Raymond James (NYSE:RJF) by 14.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,499 shares of the financial services provider’s stock after purchasing an additional 1,614 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Raymond James were worth $860,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley increased its stake in shares of Raymond James by 13.2% in the 1st quarter. Morgan Stanley now owns 263,026 shares of the financial services provider’s stock worth $16,623,000 after acquiring an additional 30,730 shares during the last quarter. Alliancebernstein L.P. increased its position in Raymond James by 1.7% during the 1st quarter. Alliancebernstein L.P. now owns 197,810 shares of the financial services provider’s stock worth $12,502,000 after purchasing an additional 3,326 shares during the period. Macquarie Group Ltd. increased its position in Raymond James by 129.2% during the 4th quarter. Macquarie Group Ltd. now owns 640,030 shares of the financial services provider’s stock worth $57,256,000 after purchasing an additional 360,836 shares during the period. BNP Paribas Arbitrage SA increased its position in Raymond James by 144.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 95,195 shares of the financial services provider’s stock worth $6,016,000 after purchasing an additional 56,292 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new position in Raymond James during the 2nd quarter worth approximately $379,000. 74.24% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the company. JMP Securities dropped their target price on Raymond James from $106.00 to $84.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 9th. Compass Point cut Raymond James from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Friday, May 1st. Morgan Stanley lowered their price target on Raymond James from $95.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday. Zacks Investment Research cut Raymond James from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a report on Wednesday, July 22nd. Finally, ValuEngine upgraded Raymond James from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $73.86.
Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.26. Raymond James had a return on equity of 13.15% and a net margin of 10.75%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $1.80 EPS. Raymond James’s revenue was down 3.7% on a year-over-year basis. On average, research analysts predict that Raymond James will post 5.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Tuesday, June 30th. Raymond James’s dividend payout ratio is presently 20.00%.
In other Raymond James news, President John C. Jr. Carson sold 10,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $82.53, for a total transaction of $825,300.00. Following the transaction, the president now owns 46,224 shares of the company’s stock, valued at approximately $3,814,866.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jeffrey P. Julien sold 9,150 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $81.58, for a total value of $746,457.00. Following the transaction, the vice president now directly owns 42,092 shares in the company, valued at approximately $3,433,865.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,400 shares of company stock worth $1,673,420. Corporate insiders own 10.82% of the company’s stock.
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.
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