Lake Street Advisors Group LLC Acquires 147 Shares of Raymond James (NYSE:RJF)

Lake Street Advisors Group LLC boosted its holdings in Raymond James (NYSE:RJF) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,394 shares of the financial services provider’s stock after purchasing an additional 147 shares during the period. Lake Street Advisors Group LLC’s holdings in Raymond James were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its position in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new position in shares of Raymond James during the second quarter valued at about $29,000. Smithfield Trust Co boosted its holdings in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd grew its stake in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in Raymond James during the 3rd quarter valued at about $32,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Trading Down 1.7 %

Raymond James stock opened at $144.91 on Friday. Raymond James has a 12 month low of $93.91 and a 12 month high of $148.68. The company has a market capitalization of $30.04 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. The business’s fifty day simple moving average is $124.23 and its two-hundred day simple moving average is $121.32. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 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 net margin of 13.16% and a return on equity of 18.44%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.13 earnings per share. As a group, equities analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, October 1st. Raymond James’s payout ratio is currently 21.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RJF shares. 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 report on Monday, July 8th. UBS Group reduced their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JMP Securities raised their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, The Goldman Sachs Group lifted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $137.36.

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 dated 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

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.