Envestnet Asset Management Inc. Buys 2,314 Shares of Raymond James Financial, Inc. (RJF)
Envestnet Asset Management Inc. increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,556 shares of the financial services provider’s stock after buying an additional 2,314 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Raymond James Financial were worth $4,346,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC raised its position in shares of Raymond James Financial by 4.9% during 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 shares of Raymond James Financial during the 2nd quarter valued at approximately $150,000. Noesis Capital Mangement Corp purchased a new stake in shares of Raymond James Financial during the 3rd quarter valued at approximately $210,000. Pacer Advisors Inc. raised its position in shares of Raymond James Financial by 8.2% during 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 raised its position in shares of Raymond James Financial by 3,103.0% during 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. 69.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research report on Tuesday, August 29th. Wells Fargo & Company raised Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $86.00 to $90.00 in a research report on Thursday, September 14th. Zacks Investment Research raised Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Wednesday, August 30th. Credit Suisse Group assumed coverage on Raymond James Financial in a research report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 target price on the stock. Finally, Buckingham Research boosted their target price on Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $88.57.
Shares of Raymond James Financial, Inc. (NYSE:RJF) traded up $1.03 during midday trading on Monday, reaching $89.49. The company’s stock had a trading volume of 513,300 shares, compared to its average volume of 780,692. The stock has a market capitalization of $12,922.40, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.89 and a beta of 1.71. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. Raymond James Financial, Inc. has a 52 week low of $68.97 and a 52 week high of $91.29.
Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.15. The company 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%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 earnings per share. analysts predict that Raymond James Financial, Inc. will post 5.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd will be paid a $0.25 dividend. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Raymond James Financial’s payout ratio is 20.32%.
In other Raymond James Financial news, Vice Chairman Francis S. Godbold sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total value of $3,847,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jennifer C. Ackart sold 3,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $89.23, for a total transaction of $267,690.00. Following the completion of the transaction, the senior vice president now owns 12,409 shares of the company’s stock, valued at approximately $1,107,255.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,812 shares of company stock valued at $24,145,735. Insiders own 11.18% of the company’s stock.
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Raymond James Financial Company Profile
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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