Nomura Holdings Inc. lowered its position in shares of Raymond James (NYSE:RJF) by 76.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,619 shares of the financial services provider’s stock after selling 21,623 shares during the period. Nomura Holdings Inc.’s holdings in Raymond James were worth $591,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in Raymond James by 1.9% during the first quarter. BlackRock Inc. now owns 8,647,915 shares of the financial services provider’s stock valued at $773,210,000 after purchasing an additional 164,613 shares during the last quarter. Wells Fargo & Company MN lifted its position in Raymond James by 7.7% during the second quarter. Wells Fargo & Company MN now owns 4,521,398 shares of the financial services provider’s stock valued at $403,986,000 after purchasing an additional 322,014 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Raymond James by 51.0% during the second quarter. Bank of New York Mellon Corp now owns 1,877,559 shares of the financial services provider’s stock valued at $167,759,000 after purchasing an additional 634,378 shares during the last quarter. Millennium Management LLC lifted its position in Raymond James by 75.1% during the first quarter. Millennium Management LLC now owns 1,140,478 shares of the financial services provider’s stock valued at $101,970,000 after purchasing an additional 489,310 shares during the last quarter. Finally, FMR LLC lifted its position in Raymond James by 30.0% during the second quarter. FMR LLC now owns 959,737 shares of the financial services provider’s stock valued at $85,753,000 after purchasing an additional 221,379 shares during the last quarter. 71.46% of the stock is owned by institutional investors.
In related news, President John C. Jr. Carson sold 5,698 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $92.66, for a total transaction of $527,976.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.46% of the company’s stock.
Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.17). The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.83 billion. Raymond James had a return on equity of 15.66% and a net margin of 10.87%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 earnings per share. equities research analysts expect that Raymond James will post 6.6 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be issued a $0.30 dividend. The ex-dividend date is Friday, September 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. Raymond James’s payout ratio is 22.94%.
Several equities research analysts have issued reports on the stock. JMP Securities upgraded shares of Raymond James from a “market perform” rating to an “outperform” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Wolfe Research started coverage on shares of Raymond James in a report on Tuesday. They issued an “outperform” rating for the company. Finally, Citigroup boosted their price objective on shares of Raymond James from $95.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Raymond James has a consensus rating of “Buy” and a consensus price target of $103.75.
Raymond James Company 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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