Hennion & Walsh Asset Management Inc. Grows Stock Position in Raymond James (NYSE:RJF)

Hennion & Walsh Asset Management Inc. increased its holdings in Raymond James (NYSE:RJF) by 3.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 28,820 shares of the financial services provider’s stock after acquiring an additional 928 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Raymond James were worth $3,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RJF. AGF Management Ltd. lifted its stake in shares of Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock valued at $318,972,000 after purchasing an additional 378,033 shares during the last quarter. Earnest Partners LLC lifted its position in Raymond James by 1.5% in the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after buying an additional 37,173 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Raymond James by 1.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock worth $273,919,000 after buying an additional 25,494 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Raymond James by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after acquiring an additional 113,826 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Raymond James by 2.1% in the 2nd quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock valued at $216,153,000 after acquiring an additional 38,695 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RJF shares. UBS Group dropped their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company boosted their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lowered their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday. Finally, TD Cowen increased their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Raymond James has a consensus rating of “Hold” and an average price target of $137.36.

Insider Activity

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’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 transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s 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 completion of 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 disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James Stock Up 7.3 %

Shares of NYSE:RJF opened at $147.37 on Friday. The firm’s 50 day moving average price is $123.66 and its 200 day moving average price is $121.26. The stock has a market cap of $30.35 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $148.68. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last announced its quarterly earnings data 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 company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 EPS. As a group, equities research analysts predict that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.22%. Raymond James’s dividend payout ratio is currently 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.