Argus Investors Counsel Inc. Sells 258 Shares of Raymond James (NYSE:RJF)

Argus Investors Counsel Inc. lowered its position in shares of Raymond James (NYSE:RJF) by 7.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,251 shares of the financial services provider’s stock after selling 258 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Raymond James were worth $398,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RJF. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the period. Quarry LP purchased a new position in shares of Raymond James during the 2nd quarter valued at $29,000. Smithfield Trust Co lifted its stake in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after buying an additional 126 shares in the last quarter. Covestor Ltd lifted its stake in shares of Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in Raymond James in the 3rd quarter worth $32,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 0.8 %

Shares of RJF stock traded down $1.16 during mid-day trading on Tuesday, hitting $136.34. The stock had a trading volume of 197,477 shares, compared to its average volume of 1,124,870. Raymond James has a 12-month low of $91.67 and a 12-month high of $139.40. The firm has a market capitalization of $28.08 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 0.96 and a beta of 1.02. The firm’s 50-day moving average is $122.08 and its two-hundred day moving average is $120.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same period in the previous year, the company posted $1.85 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.32%. Raymond James’s payout ratio is 20.29%.

Analysts Set New Price Targets

RJF has been the topic of several research reports. JPMorgan Chase & Co. reduced their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Jefferies Financial Group lifted their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. TD Cowen lifted their price objective on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, The Goldman Sachs Group reduced their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and a consensus price target of $133.36.

Insider Transactions at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

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.