Raymond James (NYSE:RJF) Shares Purchased by Vestmark Advisory Solutions Inc.

Posted by Defense World Staff on Aug 19th, 2023

Vestmark Advisory Solutions Inc. raised its position in Raymond James (NYSE:RJF – Free Report) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,704 shares of the financial services provider’s stock after acquiring an additional 278 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Raymond James were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RJF. Ameritas Advisory Services LLC purchased a new stake in Raymond James during the 1st quarter worth $28,000. Covestor Ltd increased its position in shares of Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 138 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Raymond James in the second quarter worth about $49,000. Delta Asset Management LLC TN purchased a new position in Raymond James in the fourth quarter valued at about $72,000. Finally, TD Capital Management LLC acquired a new stake in Raymond James during the 1st quarter valued at approximately $72,000. Hedge funds and other institutional investors own 74.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RJF. StockNews.com began coverage on shares of Raymond James in a research report on Thursday. They set a “hold” rating for the company. Jefferies Financial Group boosted their target price on shares of Raymond James from $112.00 to $120.00 in a research report on Monday, July 10th. Finally, Morgan Stanley cut their target price on shares of Raymond James from $112.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $117.43.

Get Our Latest Analysis on RJF

Raymond James Trading Up 0.7 %

Raymond James stock opened at $105.12 on Friday. Raymond James has a 1 year low of $82.00 and a 1 year high of $126.00. The firm’s 50-day moving average is $104.80 and its 200-day moving average is $99.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 0.97. The company has a market cap of $21.95 billion, a P/E ratio of 13.27 and a beta of 1.05.

Raymond James (NYSE:RJF – Get Free Report) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.25). The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.91 billion. Raymond James had a return on equity of 18.73% and a net margin of 13.98%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. On average, equities analysts expect that Raymond James will post 8.5 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis 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 Activity

In related news, COO Jeffrey A. Dowdle sold 5,281 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $96.36, for a total value of $508,877.16. Following the sale, the chief operating officer now owns 48,314 shares of the company’s stock, valued at approximately $4,655,537.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Horace Carter sold 3,753 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $109.12, for a total value of $409,527.36. Following the completion of the transaction, the insider now owns 19,515 shares of the company’s stock, valued at $2,129,476.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey A. Dowdle sold 5,281 shares of the firm’s stock in a transaction 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 directly owns 48,314 shares in the company, valued at $4,655,537.04. The disclosure for this sale can be found here. Corporate insiders own 9.46% of the company’s stock.

Raymond James Company Profile

(Free Report)

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.