Nisa Investment Advisors LLC Buys 5,100 Shares of Raymond James (NYSE:RJF)

Nisa Investment Advisors LLC raised its stake in Raymond James (NYSE:RJF) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,822 shares of the financial services provider’s stock after acquiring an additional 5,100 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Raymond James were worth $11,367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RJF. First Trust Direct Indexing L.P. increased its stake in shares of Raymond James by 6.3% during the first quarter. First Trust Direct Indexing L.P. now owns 3,843 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 227 shares during the period. Norden Group LLC increased its position in Raymond James by 75.5% during the 1st quarter. Norden Group LLC now owns 4,439 shares of the financial services provider’s stock worth $570,000 after buying an additional 1,909 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Raymond James by 0.3% during the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock worth $5,332,000 after buying an additional 107 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 93 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Raymond James by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,227 shares of the financial services provider’s stock valued at $3,496,000 after acquiring an additional 2,616 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.74% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RJF has been the subject of several analyst reports. The Goldman Sachs Group lifted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. UBS Group cut their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. TD Cowen raised their price objective on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $140.91.

Raymond James Price Performance

Raymond James stock opened at $149.07 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a 52 week low of $94.53 and a 52 week high of $150.94. The stock has a market capitalization of $30.70 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The stock has a fifty day moving average of $126.21 and a 200-day moving average of $121.82.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 earnings per share. On average, sell-side analysts expect that Raymond James will post 10.32 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio is 18.54%.

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.