Creative Planning lessened its stake in Raymond James (NYSE:RJF) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,836 shares of the financial services provider’s stock after selling 2,519 shares during the quarter. Creative Planning’s holdings in Raymond James were worth $4,110,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Squar Milner Financial Services LLC raised its holdings in shares of Raymond James by 509.8% in the 3rd quarter. Squar Milner Financial Services LLC now owns 311 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 260 shares during the period. Usca Ria LLC bought a new stake in Raymond James during the 3rd quarter valued at $27,000. Motco bought a new stake in Raymond James during the 2nd quarter valued at $31,000. Atlas Capital Advisors LLC bought a new stake in Raymond James during the 2nd quarter valued at $31,000. Finally, Shine Investment Advisory Services Inc. raised its holdings in Raymond James by 36.0% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 567 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 150 shares during the period. 70.23% of the stock is currently owned by institutional investors.
In related news, Vice Chairman Jeffrey E. Trocin sold 17,360 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $88.09, for a total value of $1,529,242.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul D. Allison sold 1,950 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $84.50, for a total transaction of $164,775.00. Following the completion of the transaction, the chief executive officer now owns 41,852 shares of the company’s stock, valued at $3,536,494. The disclosure for this sale can be found here. Insiders have sold a total of 51,059 shares of company stock valued at $4,288,133 over the last 90 days. Company insiders own 10.74% of the company’s stock.
A number of equities research analysts have issued reports on the stock. ValuEngine cut shares of Raymond James from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 29th. Credit Suisse Group boosted their target price on shares of Raymond James from $97.00 to $98.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Citigroup lowered their target price on shares of Raymond James from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $92.00.
Shares of RJF traded up $0.31 during mid-day trading on Friday, reaching $89.37. 112,622 shares of the stock traded hands, compared to its average volume of 1,016,639. The firm has a fifty day moving average price of $82.83 and a 200 day moving average price of $83.08. The company has a market cap of $12.37 billion, a price-to-earnings ratio of 12.08 and a beta of 1.52. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Raymond James has a 1 year low of $69.11 and a 1 year high of $92.00.
Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.01. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.99 billion. Raymond James had a net margin of 12.89% and a return on equity of 16.67%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. On average, sell-side analysts anticipate that Raymond James will post 8.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.34 per share. The ex-dividend date was Monday, September 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. Raymond James’s dividend payout ratio (DPR) is currently 18.38%.
Raymond James Profile
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.
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