American Century Companies Inc. decreased its stake in Raymond James (NYSE:RJF – Free Report) by 57.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,267 shares of the financial services provider’s stock after selling 253,595 shares during the period. American Century Companies Inc. owned about 0.09% of Raymond James worth $17,537,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in RJF. Envestnet Asset Management Inc. grew its position in Raymond James by 11.8% in the first quarter. Envestnet Asset Management Inc. now owns 406,283 shares of the financial services provider’s stock worth $33,684,000 after acquiring an additional 43,001 shares in the last quarter. Oarsman Capital Inc. boosted its holdings in shares of Raymond James by 66.8% in the 1st quarter. Oarsman Capital Inc. now owns 7,682 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 3,076 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Raymond James by 5.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 28,491 shares of the financial services provider’s stock valued at $2,657,000 after purchasing an additional 1,475 shares during the last quarter. Guggenheim Capital LLC grew its position in Raymond James by 17.5% during the first quarter. Guggenheim Capital LLC now owns 12,667 shares of the financial services provider’s stock valued at $1,181,000 after acquiring an additional 1,887 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Raymond James by 251.2% during the 1st quarter. Intech Investment Management LLC now owns 34,659 shares of the financial services provider’s stock valued at $3,233,000 after purchasing an additional 24,789 shares during the last quarter. Institutional investors own 75.00% of the company’s stock.
Raymond James Stock Performance
Raymond James stock opened at $104.59 on Friday. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $126.00. The stock’s 50 day simple moving average is $105.55 and its two-hundred day simple moving average is $98.94. 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 stock has a market cap of $21.84 billion, a price-to-earnings ratio of 13.21 and a beta of 1.05.
Raymond James Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, September 29th. Raymond James’s payout ratio is currently 21.21%.
Analysts Set New Price Targets
Several research analysts have recently commented on RJF shares. Morgan Stanley decreased their price objective on Raymond James from $112.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, July 31st. StockNews.com started coverage on Raymond James in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group increased their price objective on Raymond James from $112.00 to $120.00 in a report on Monday, July 10th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $117.43.
Read Our Latest Analysis on Raymond James
Insiders Place Their Bets
In other news, insider Horace Carter sold 3,753 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 19,515 shares of the company’s stock, valued at approximately $2,129,476.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Raymond James news, insider Horace Carter sold 3,753 shares of Raymond James stock in a transaction on Monday, July 31st. The stock was 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 owns 19,515 shares in the company, valued at $2,129,476.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey A. Dowdle sold 5,281 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $96.36, for a total value of $508,877.16. Following the completion of the sale, 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 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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