Vanguard Group Inc. increased its stake in Raymond James (NYSE:RJF) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,785,926 shares of the financial services provider’s stock after buying an additional 43,281 shares during the period. Vanguard Group Inc. owned 9.93% of Raymond James worth $1,165,599,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Motco purchased a new position in Raymond James during the 2nd quarter valued at about $31,000. Atlas Capital Advisors LLC bought a new stake in shares of Raymond James in the 2nd quarter valued at about $31,000. Bremer Bank National Association bought a new stake in shares of Raymond James in the 1st quarter valued at about $38,000. FTB Advisors Inc. boosted its holdings in shares of Raymond James by 944.3% in the 2nd quarter. FTB Advisors Inc. now owns 731 shares of the financial services provider’s stock valued at $61,000 after buying an additional 661 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Raymond James in the 2nd quarter valued at about $62,000. 70.78% of the stock is currently owned by institutional investors and hedge funds.
In other Raymond James news, EVP Jonathan N. Santelli sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $84.80, for a total transaction of $101,760.00. Following the completion of the transaction, the executive vice president now directly owns 1,078 shares of the company’s stock, valued at approximately $91,414.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jeffrey A. Dowdle sold 8,398 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $84.91, for a total transaction of $713,074.18. Following the transaction, the chief accounting officer now directly owns 34,338 shares of the company’s stock, valued at $2,915,639.58. The disclosure for this sale can be found here. Insiders sold a total of 25,354 shares of company stock valued at $2,053,098 over the last quarter. 10.74% of the stock is owned by company insiders.
Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Raymond James had a return on equity of 16.12% and a net margin of 13.06%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. Sell-side analysts expect that Raymond James will post 7.4 earnings per share for the current year.
A number of research firms have recently weighed in on RJF. ValuEngine cut shares of Raymond James from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Citigroup lowered their price target on shares of Raymond James from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Raymond James has a consensus rating of “Buy” and a consensus price target of $93.75.
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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