Cadence Capital Management LLC Trims Position in Raymond James (RJF)

Cadence Capital Management LLC lowered its stake in shares of Raymond James (NYSE:RJF) by 18.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,699 shares of the financial services provider’s stock after selling 817 shares during the quarter. Cadence Capital Management LLC’s holdings in Raymond James were worth $340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Raymond James by 8.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 408,967 shares of the financial services provider’s stock valued at $36,541,000 after buying an additional 33,257 shares during the period. Toronto Dominion Bank boosted its position in Raymond James by 19.6% during the second quarter. Toronto Dominion Bank now owns 83,577 shares of the financial services provider’s stock worth $7,466,000 after purchasing an additional 13,694 shares during the period. We Are One Seven LLC bought a new position in Raymond James during the third quarter worth about $344,000. NumerixS Investment Technologies Inc boosted its position in Raymond James by 332.1% during the second quarter. NumerixS Investment Technologies Inc now owns 12,100 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 9,300 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Raymond James by 5.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 686,538 shares of the financial services provider’s stock worth $61,343,000 after purchasing an additional 37,374 shares during the period. Institutional investors own 71.31% of the company’s stock.

In other news, insider Tashtego S. Elwyn purchased 1,500 shares of the stock in a transaction dated Monday, October 29th. The shares were purchased at an average cost of $73.75 per share, with a total value of $110,625.00. Following the completion of the acquisition, the insider now owns 12,055 shares in the company, valued at approximately $889,056.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President John C. Jr. Carson sold 5,698 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $92.66, for a total transaction of $527,976.68. The disclosure for this sale can be found here. Corporate insiders own 10.46% of the company’s stock.

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Raymond James from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Thursday, October 4th. Wolfe Research assumed coverage on shares of Raymond James in a research report on Tuesday, September 25th. They set an “outperform” rating for the company. JMP Securities upgraded shares of Raymond James from a “market perform” rating to an “outperform” rating in a research report on Friday, July 27th. ValuEngine lowered shares of Raymond James from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, Citigroup lowered shares of Raymond James from a “buy” rating to a “neutral” rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $104.00.

Shares of Raymond James stock opened at $78.31 on Wednesday. Raymond James has a 12-month low of $71.93 and a 12-month high of $102.17. The stock has a market capitalization of $11.60 billion, a PE ratio of 12.10, a PEG ratio of 0.63 and a beta of 1.74. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.13). Raymond James had a return on equity of 15.99% and a net margin of 11.46%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.91 billion. On average, analysts anticipate that Raymond James will post 7.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, September 28th. Raymond James’s payout ratio is 18.55%.

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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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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