Private Capital Management LLC lessened its stake in Raymond James (NYSE:RJF) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,580 shares of the financial services provider’s stock after selling 1,855 shares during the quarter. Raymond James comprises about 1.9% of Private Capital Management LLC’s holdings, making the stock its 22nd largest holding. Private Capital Management LLC owned approximately 0.11% of Raymond James worth $12,647,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC purchased a new position in shares of Raymond James during the 2nd quarter valued at approximately $31,000. Motco purchased a new position in shares of Raymond James during the 2nd quarter valued at approximately $31,000. Bremer Bank National Association purchased a new position in shares of Raymond James during the 1st quarter valued at approximately $38,000. FTB Advisors Inc. boosted its stake in shares of Raymond James by 944.3% during 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 during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Raymond James during the 2nd quarter valued at approximately $62,000. Hedge funds and other institutional investors own 70.78% of the company’s stock.
In other Raymond James news, CFO Jeffrey P. Julien sold 15,756 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $78.59, for a total value of $1,238,264.04. Following the sale, the chief financial officer now directly owns 39,592 shares of the company’s stock, valued at $3,111,535.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jeffrey A. Dowdle sold 8,398 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $84.91, for a total value of $713,074.18. Following the completion of the sale, the chief accounting officer now directly owns 34,338 shares in the company, valued at $2,915,639.58. The disclosure for this sale can be found here. Insiders have sold 25,354 shares of company stock worth $2,053,098 over the last 90 days. 10.74% of the stock is currently owned by company insiders.
RJF traded down $0.86 during trading hours on Wednesday, hitting $85.49. 18,172 shares of the stock were exchanged, compared to its average volume of 764,734. The stock has a 50-day simple moving average of $78.77 and a 200-day simple moving average of $83.08. Raymond James has a 12 month low of $69.11 and a 12 month high of $96.76. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 13.13 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 1.08.
Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($0.06). Raymond James had a return on equity of 16.12% and a net margin of 13.06%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business earned $1.55 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Raymond James will post 7.4 EPS for the current year.
RJF has been the subject of several research analyst reports. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Citigroup set a $87.00 target price on Raymond James and gave the company a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $93.88.
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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