Wedbush Securities Inc. acquired a new position in shares of Raymond James (NYSE:RJF – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,207 shares of the financial services provider’s stock, valued at approximately $206,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Raymond James by 0.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,857 shares of the financial services provider’s stock valued at $3,065,000 after purchasing an additional 134 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in Raymond James by 11.5% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 2,704 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 278 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in Raymond James by 22.3% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 5,911 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 1,079 shares during the last quarter. MGO One Seven LLC lifted its holdings in Raymond James by 1.8% during the 1st quarter. MGO One Seven LLC now owns 9,121 shares of the financial services provider’s stock valued at $851,000 after purchasing an additional 159 shares during the last quarter. Finally, Palisade Capital Management LP lifted its holdings in Raymond James by 0.7% during the 1st quarter. Palisade Capital Management LP now owns 582,535 shares of the financial services provider’s stock valued at $54,333,000 after purchasing an additional 4,020 shares during the last quarter. 74.14% of the stock is owned by institutional investors.
Raymond James Stock Up 0.7 %
Shares of NYSE:RJF opened at $105.12 on Friday. Raymond James has a one year low of $82.00 and a one year high of $126.00. The company has a 50 day moving average of $104.80 and a 200-day moving average of $99.51. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.95. The stock has a market cap of $21.95 billion, a price-to-earnings ratio of 13.27 and a beta of 1.05.
Raymond James Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, June 30th. Raymond James’s payout ratio is 21.21%.
Insider Buying and Selling
In related news, insider Horace Carter sold 3,753 shares of Raymond James stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $109.12, for a total transaction of $409,527.36. Following the transaction, the insider now owns 19,515 shares of the company’s stock, valued at approximately $2,129,476.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Raymond James news, COO Jeffrey A. Dowdle sold 5,281 shares of Raymond James stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $96.36, for a total value of $508,877.16. Following the transaction, the chief operating officer now owns 48,314 shares of the company’s stock, valued at $4,655,537.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Horace Carter sold 3,753 shares of Raymond James stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $109.12, for a total transaction of $409,527.36. Following the completion of the transaction, the insider now directly owns 19,515 shares in the company, valued at approximately $2,129,476.80. The disclosure for this sale can be found here. 9.46% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on RJF. StockNews.com started coverage on shares of Raymond James in a report on Thursday. They set a “hold” rating for the company. Jefferies Financial Group raised their price objective on shares of Raymond James from $112.00 to $120.00 in a research report on Monday, July 10th. Finally, Morgan Stanley lowered their price objective on shares of Raymond James from $112.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $117.43.
View Our Latest Stock Report on RJF
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.
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