International Assets Investment Management LLC Grows Position in Raymond James (NYSE:RJF)

International Assets Investment Management LLC boosted its stake in shares of Raymond James (NYSE:RJF) by 44,291.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,654 shares of the financial services provider’s stock after purchasing an additional 10,630 shares during the period. International Assets Investment Management LLC’s holdings in Raymond James were worth $1,305,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC boosted its position in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP purchased a new position in shares of Raymond James in the second quarter valued at approximately $29,000. Covestor Ltd raised its stake in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. Smithfield Trust Co grew its holdings in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after buying an additional 126 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in Raymond James during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RJF shares. Jefferies Financial Group raised their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. JMP Securities lifted their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. TD Cowen raised their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.91.

Insiders Place Their Bets

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.74% of the stock is owned by corporate insiders.

Raymond James Stock Up 0.7 %

Shares of Raymond James stock opened at $145.35 on Tuesday. Raymond James has a one year low of $98.72 and a one year high of $151.59. The company has a market cap of $29.93 billion, a P/E ratio of 14.97, a PEG ratio of 0.75 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The firm has a fifty day moving average of $127.40 and a two-hundred day moving average of $122.16.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the business earned $2.13 earnings per share. Raymond James’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts forecast that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

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.