Chevy Chase Trust Holdings Inc. Buys 1,497 Shares of Raymond James Financial, Inc. (RJF)
Chevy Chase Trust Holdings Inc. increased its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,923 shares of the financial services provider’s stock after purchasing an additional 1,497 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Raymond James Financial worth $9,439,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. YorkBridge Wealth Partners LLC grew its holdings in Raymond James Financial by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock valued at $115,000 after buying an additional 66 shares during the period. Burt Wealth Advisors purchased a new stake in Raymond James Financial in the 2nd quarter valued at about $150,000. Noesis Capital Mangement Corp purchased a new stake in Raymond James Financial in the 3rd quarter valued at about $210,000. Pacer Advisors Inc. grew its holdings in Raymond James Financial by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock valued at $218,000 after buying an additional 206 shares during the period. Finally, FNY Partners Fund LP grew its holdings in Raymond James Financial by 3,103.0% in the 2nd quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock valued at $240,000 after buying an additional 3,103 shares during the period. Institutional investors own 69.86% of the company’s stock.
In other news, insider Tashtego S. Elwyn sold 8,997 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $85.17, for a total value of $766,274.49. Following the completion of the sale, the insider now directly owns 22,178 shares in the company, valued at approximately $1,888,900.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Thomas A. James sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $85.98, for a total value of $17,196,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,017 shares of company stock worth $26,295,553. 11.18% of the stock is currently owned by corporate insiders.
Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $1.32 by $0.15. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. Raymond James Financial’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 EPS. sell-side analysts anticipate that Raymond James Financial, Inc. will post 5.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, January 2nd. Raymond James Financial’s dividend payout ratio is presently 20.37%.
RJF has been the subject of several recent analyst reports. Buckingham Research lifted their price target on Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 27th. Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Thursday, September 14th. Zacks Investment Research raised Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Wednesday, August 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group started coverage on Raymond James Financial in a research note on Thursday, November 30th. They issued an “underperform” rating and a $82.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $88.57.
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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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