V Square Quantitative Management LLC Acquires 855 Shares of Raymond James (NYSE:RJF)

V Square Quantitative Management LLC raised its holdings in shares of Raymond James (NYSE:RJF) by 20.8% during the third quarter, Holdings Channel reports. The fund owned 4,971 shares of the financial services provider’s stock after buying an additional 855 shares during the period. V Square Quantitative Management LLC’s holdings in Raymond James were worth $609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Raymond James by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,797 shares of the financial services provider’s stock valued at $2,547,000 after acquiring an additional 332 shares during the last quarter. Cardinal Capital Management grew its position in Raymond James by 2.9% during the third quarter. Cardinal Capital Management now owns 32,106 shares of the financial services provider’s stock valued at $3,932,000 after acquiring an additional 907 shares during the last quarter. nVerses Capital LLC bought a new position in Raymond James during the third quarter valued at approximately $1,041,000. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Raymond James by 5.9% in the third quarter. Vontobel Holding Ltd. now owns 2,440 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 137 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James 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 $3,879,063.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James 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 $3,879,063.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. TD Cowen raised their target price on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group cut their target price on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Finally, Jefferies Financial Group raised their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $133.36.

Raymond James Stock Performance

Shares of Raymond James stock opened at $138.51 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $28.52 billion, a P/E ratio of 15.62, a P/E/G ratio of 0.90 and a beta of 1.02. The business has a fifty day simple moving average of $121.53 and a two-hundred day simple moving average of $120.90. Raymond James has a 12 month low of $91.67 and a 12 month high of $139.40.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share. On average, equities analysts forecast that Raymond James will post 9.57 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 20.29%.

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.