Verition Fund Management LLC bought a new position in Raymond James (NYSE:RJF) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,192 shares of the financial services provider’s stock, valued at approximately $220,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Raymond James by 13.2% in the 1st quarter. Morgan Stanley now owns 263,026 shares of the financial services provider’s stock worth $16,623,000 after acquiring an additional 30,730 shares during the last quarter. Alliancebernstein L.P. grew its position in Raymond James by 1.7% in the 1st quarter. Alliancebernstein L.P. now owns 197,810 shares of the financial services provider’s stock worth $12,502,000 after purchasing an additional 3,326 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Raymond James by 144.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 95,195 shares of the financial services provider’s stock worth $6,016,000 after purchasing an additional 56,292 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Raymond James in the 2nd quarter worth about $379,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Raymond James by 12.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,858 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 2,892 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.
A number of brokerages have issued reports on RJF. Morgan Stanley reduced their price objective on shares of Raymond James from $95.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Seaport Global Securities began coverage on shares of Raymond James in a research report on Wednesday, July 8th. They issued a “neutral” rating for the company. TheStreet raised shares of Raymond James from a “c+” rating to a “b-” rating in a research report on Friday, September 4th. Credit Suisse Group upped their price objective on shares of Raymond James from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Zacks Investment Research downgraded shares of Raymond James from a “hold” rating to a “sell” rating and set a $78.00 target price for the company. in a research report on Monday, August 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Raymond James has an average rating of “Hold” and an average target price of $74.00.
Raymond James stock opened at $74.34 on Wednesday. Raymond James has a twelve month low of $54.21 and a twelve month high of $102.45. The firm has a 50 day moving average price of $74.32 and a 200-day moving average price of $69.98. The company has a market capitalization of $10.20 billion, a P/E ratio of 12.03 and a beta of 1.35. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.
Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.26. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.84 billion. Raymond James had a net margin of 10.75% and a return on equity of 13.04%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 EPS. Equities analysts expect that Raymond James will post 5.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, September 30th. Raymond James’s dividend payout ratio (DPR) is presently 20.00%.
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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