nVerses Capital LLC Acquires New Shares in Raymond James (NYSE:RJF)

nVerses Capital LLC purchased a new stake in Raymond James (NYSE:RJF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,500 shares of the financial services provider’s stock, valued at approximately $1,041,000. Raymond James makes up approximately 0.5% of nVerses Capital LLC’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Raymond James by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,181 shares of the financial services provider’s stock worth $2,696,000 after buying an additional 211 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in Raymond James in the 4th quarter worth about $179,000. Nomura Holdings Inc. bought a new position in Raymond James in the fourth quarter valued at about $421,000. Mather Group LLC. acquired a new stake in shares of Raymond James during the first quarter valued at about $199,000. Finally, Czech National Bank grew its holdings in shares of Raymond James by 0.6% during the first quarter. Czech National Bank now owns 33,100 shares of the financial services provider’s stock worth $4,251,000 after purchasing an additional 187 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. TD Cowen raised their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. JMP Securities raised shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price objective on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company increased their price objective on Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $133.36.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Raymond James Trading Up 0.7 %

Shares of NYSE:RJF traded up $0.89 during midday trading on Thursday, reaching $137.02. The company’s stock had a trading volume of 200,600 shares, compared to its average volume of 1,110,488. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $137.58. 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 50 day moving average price of $120.38 and a two-hundred day moving average price of $120.76. The firm has a market capitalization of $28.22 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.88 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 earnings per share. As a group, analysts forecast that Raymond James will post 9.57 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s dividend payout ratio is presently 20.29%.

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.