Amalgamated Bank trimmed its position in Raymond James (NYSE:RJF – Get Rating) by 6.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 46,803 shares of the financial services provider’s stock after selling 3,060 shares during the period. Amalgamated Bank’s holdings in Raymond James were worth $5,144,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV grew its position in Raymond James by 0.5% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,904 shares of the financial services provider’s stock worth $1,998,000 after purchasing an additional 97 shares in the last quarter. National Bank of Canada FI grew its position in Raymond James by 8.5% in the 1st quarter. National Bank of Canada FI now owns 1,353 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 106 shares in the last quarter. New England Professional Planning Group Inc. grew its position in Raymond James by 0.3% in the 1st quarter. New England Professional Planning Group Inc. now owns 36,204 shares of the financial services provider’s stock worth $3,944,000 after purchasing an additional 114 shares in the last quarter. Wetherby Asset Management Inc. grew its position in Raymond James by 5.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 2,520 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 121 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Raymond James by 59.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 327 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 122 shares in the last quarter. 76.77% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, insider James E. Bunn sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $106.75, for a total value of $427,000.00. Following the completion of the transaction, the insider now directly owns 21,096 shares of the company’s stock, valued at approximately $2,251,998. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.25% of the stock is owned by insiders.
Raymond James Stock Up 2.5 %
Raymond James (NYSE:RJF – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $1.61 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.12). The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.66 billion. Raymond James had a return on equity of 17.94% and a net margin of 13.58%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $1.83 earnings per share. As a group, equities analysts predict that Raymond James will post 7.43 EPS for the current year.
Raymond James Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, September 30th. Raymond James’s dividend payout ratio (DPR) is presently 19.37%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on RJF shares. Jefferies Financial Group upped their price objective on shares of Raymond James from $108.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Morgan Stanley reduced their target price on shares of Raymond James from $138.00 to $119.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $139.00.
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.
- Get a free copy of the StockNews.com research report on Raymond James (RJF)
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