AXA decreased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 74.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the financial services provider’s stock after selling 45,512 shares during the period. AXA’s holdings in Raymond James Financial were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burt Wealth Advisors acquired a new stake in shares of Raymond James Financial during the second quarter worth approximately $150,000. Global X Management Co. LLC increased its holdings in shares of Raymond James Financial by 42.5% during the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock worth $176,000 after buying an additional 690 shares in the last quarter. Triangle Securities Wealth Management acquired a new stake in shares of Raymond James Financial during the second quarter worth approximately $206,000. Pacer Advisors Inc. increased its holdings in shares of Raymond James Financial by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after buying an additional 206 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Raymond James Financial during the second quarter worth approximately $225,000. 70.02% of the stock is owned by institutional investors.
Several research firms have recently commented on RJF. Buckingham Research reissued a “buy” rating and set a $94.00 price target (up from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Zacks Investment Research raised shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, August 30th. BidaskClub raised shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Wells Fargo & Company raised shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $86.00 to $90.00 in a research note on Thursday, September 14th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $85.00 price target on shares of Raymond James Financial in a research note on Monday, June 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $89.33.
In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the sale, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the sale, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.
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Raymond James Financial, Inc. (NYSE RJF) opened at 84.33 on Friday. Raymond James Financial, Inc. has a 52 week low of $56.06 and a 52 week high of $85.97. The company has a market capitalization of $12.12 billion, a PE ratio of 20.05 and a beta of 1.66. The firm has a 50-day moving average of $79.30 and a 200-day moving average of $77.70.
Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. Equities analysts expect that Raymond James Financial, Inc. will post $5.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, September 29th. Raymond James Financial’s payout ratio is 20.90%.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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