Raymond James (NYSE:RJF) Stake Increased by Primecap Management Co. CA

Primecap Management Co. CA lifted its stake in shares of Raymond James (NYSE:RJF) by 27.9% in the 1st quarter, HoldingsChannel reports. The fund owned 2,039,950 shares of the financial services provider’s stock after acquiring an additional 445,300 shares during the period. Primecap Management Co. CA’s holdings in Raymond James were worth $164,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. GYL Financial Synergies LLC acquired a new stake in shares of Raymond James in the 1st quarter valued at about $1,663,000. Andra AP fonden bought a new position in Raymond James during the first quarter worth about $5,548,000. Wealthfront Advisers LLC bought a new position in Raymond James during the first quarter worth about $211,000. Trexquant Investment LP bought a new position in Raymond James during the first quarter worth about $2,779,000. Finally, Duality Advisers LP bought a new position in Raymond James during the first quarter worth about $1,363,000. Institutional investors own 70.06% of the company’s stock.

Shares of NYSE:RJF traded down $1.79 during trading on Friday, reaching $81.78. 6,002 shares of the stock were exchanged, compared to its average volume of 786,969. Raymond James has a 12 month low of $69.11 and a 12 month high of $99.45. The stock has a market cap of $11.75 billion, a PE ratio of 12.67 and a beta of 1.59. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.14. Raymond James had a return on equity of 15.90% and a net margin of 12.90%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Equities research analysts expect that Raymond James will post 7.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.34 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.66%. Raymond James’s payout ratio is 21.02%.

In other news, CEO Steven M. Raney sold 2,926 shares of Raymond James stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $90.60, for a total value of $265,095.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 60,000 shares of Raymond James stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $91.35, for a total transaction of $5,481,000.00. Following the completion of the sale, the chief executive officer now owns 80,382 shares of the company’s stock, valued at $7,342,895.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,881 shares of company stock valued at $10,012,987. 10.74% of the stock is owned by company insiders.

A number of equities analysts recently commented on RJF shares. Argus reiterated a “buy” rating on shares of Raymond James in a report on Tuesday, April 30th. Zacks Investment Research upgraded Raymond James from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Thursday, April 4th. Compass Point started coverage on Raymond James in a report on Monday, March 11th. They set a “buy” rating and a $96.00 price target for the company. ValuEngine upgraded Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, Citigroup lifted their price target on Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Raymond James currently has an average rating of “Buy” and a consensus target price of $94.63.

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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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