Gladstone Institutional Advisory LLC Has $1.21 Million Stock Position in Raymond James (NYSE:RJF)

Gladstone Institutional Advisory LLC raised its position in shares of Raymond James (NYSE:RJF) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,861 shares of the financial services provider’s stock after acquiring an additional 845 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Raymond James were worth $1,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Heritage Wealth Advisors increased its position in Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after buying an additional 474,622 shares during the period. AGF Management Ltd. increased its position in Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares during the period. SG Americas Securities LLC raised its stake in Raymond James by 820.2% in the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock worth $25,388,000 after purchasing an additional 176,210 shares in the last quarter. Earnest Partners LLC boosted its holdings in Raymond James by 5.9% in the 1st quarter. Earnest Partners LLC now owns 2,468,196 shares of the financial services provider’s stock valued at $316,966,000 after purchasing an additional 138,075 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Raymond James by 34.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 493,729 shares of the financial services provider’s stock worth $60,462,000 after purchasing an additional 126,437 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RJF shares. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. TD Cowen upped their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group decreased their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Jefferies Financial Group boosted their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $140.91.

Insider Buying and Selling at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on 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 in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.74% of the company’s stock.

Raymond James Stock Down 2.7 %

Shares of RJF opened at $144.29 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a 52 week low of $97.05 and a 52 week high of $151.59. The stock has a market capitalization of $29.72 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 0.75 and a beta of 0.98. The stock has a fifty day moving average of $127.40 and a 200-day moving average of $122.16.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $2.13 earnings per share. As a group, sell-side analysts anticipate that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is 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.