Westpac Banking Corp cut its holdings in Raymond James Financial, Inc. (NYSE:RJF) by 99.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,444 shares of the financial services provider’s stock after selling 1,278,394 shares during the quarter. Westpac Banking Corp’s holdings in Raymond James Financial were worth $677,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Burt Wealth Advisors acquired a new position in Raymond James Financial in the second quarter valued at approximately $150,000. Global X Management Co. LLC lifted its stake in Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock valued at $176,000 after buying an additional 690 shares during the period. Triangle Securities Wealth Management acquired a new position in Raymond James Financial in the second quarter valued at approximately $206,000. Pacer Advisors Inc. lifted its stake in Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock valued at $218,000 after buying an additional 206 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Raymond James Financial in the second quarter valued at approximately $225,000. 70.03% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, insider Bella Loykhter Allaire sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the completion of the transaction, the insider now owns 37,513 shares in the company, valued at approximately $3,107,201.79. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Paul C. Reilly sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the completion of the transaction, the chief executive officer now owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. Company insiders own 11.18% of the company’s stock.
Shares of Raymond James Financial, Inc. (NYSE RJF) opened at 78.22 on Wednesday. The stock’s 50 day moving average price is $80.05 and its 200 day moving average price is $77.70. The company has a market cap of $11.24 billion, a P/E ratio of 18.60 and a beta of 1.66. Raymond James Financial, Inc. has a 12-month low of $56.06 and a 12-month high of $85.97.
Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. On average, analysts forecast that Raymond James Financial, Inc. will post $5.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, September 29th. Raymond James Financial’s payout ratio is presently 20.90%.
Several equities analysts have issued reports on RJF shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a research note on Wednesday, May 24th. Instinet dropped their price target on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Wells Fargo & Company reissued a “market perform” rating and issued a $85.00 price target (up from $82.50) on shares of Raymond James Financial in a research note on Monday, June 12th. BidaskClub raised Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Finally, Buckingham Research reissued a “buy” rating and issued a $94.00 price target (up from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.50.
Raymond James Financial Profile
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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