WEALTHFRONT Corp Has $1.07 Million Stake in Raymond James (RJF)

WEALTHFRONT Corp decreased its stake in Raymond James (NYSE:RJF) by 10.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,652 shares of the financial services provider’s stock after selling 1,328 shares during the quarter. WEALTHFRONT Corp’s holdings in Raymond James were worth $1,073,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Raymond James by 51.0% in the 2nd 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. Advisors Asset Management Inc. lifted its stake in Raymond James by 4,885.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 366,463 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 359,112 shares during the last quarter. FMR LLC lifted its stake in Raymond James by 30.0% in the 2nd 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. Davis Capital Partners LLC lifted its stake in Raymond James by 400.0% in the 2nd quarter. Davis Capital Partners LLC now owns 250,000 shares of the financial services provider’s stock valued at $22,337,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Raymond James by 119.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 288,550 shares of the financial services provider’s stock valued at $26,561,000 after purchasing an additional 156,791 shares during the last quarter. Institutional investors own 72.74% of the company’s stock.

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

Several equities research analysts recently issued reports on RJF shares. 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 note on Thursday, October 4th. Buckingham Research cut their target price on shares of Raymond James from $117.00 to $111.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Credit Suisse Group cut their target price on shares of Raymond James from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. Citigroup downgraded shares of Raymond James from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. Finally, Goldman Sachs Group started coverage on shares of Raymond James in a research note on Tuesday, November 27th. They issued a “neutral” rating and a $85.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Raymond James presently has an average rating of “Hold” and an average target price of $100.63.

Shares of RJF stock opened at $75.38 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.13 and a quick ratio of 1.10. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 0.61 and a beta of 1.74. Raymond James has a 12-month low of $71.93 and a 12-month high of $102.17.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by ($0.13). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Raymond James had a return on equity of 15.72% and a net margin of 11.46%. On average, sell-side analysts anticipate that Raymond James will post 7.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Thursday, January 3rd will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a yield of 1.80%. Raymond James’s dividend payout ratio (DPR) is 18.55%.

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

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