Massmutual Trust Co. FSB ADV Acquires 234 Shares of Raymond James (NYSE:RJF)

Massmutual Trust Co. FSB ADV increased its position in Raymond James (NYSE:RJFGet Rating) by 365.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298 shares of the financial services provider’s stock after purchasing an additional 234 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Raymond James were worth $27,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV grew its stake in Raymond James by 0.5% in the fourth 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 stake in Raymond James by 8.5% in the first 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 stake in Raymond James by 0.3% in the first 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 stake in Raymond James by 5.0% in the first 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 lifted its holdings in Raymond James by 59.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 327 shares of the financial services provider’s stock worth $33,000 after buying an additional 122 shares during the period. Institutional investors own 76.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley lowered their target price on Raymond James from $138.00 to $119.00 and set an “overweight” rating for the company in a report on Monday, July 18th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Jefferies Financial Group upped their target price on Raymond James from $108.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.00.

Raymond James Stock Performance

Shares of RJF opened at $109.47 on Tuesday. Raymond James has a 12 month low of $84.86 and a 12 month high of $117.37. The stock has a fifty day moving average price of $102.45 and a 200-day moving average price of $100.01. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The firm has a market cap of $23.63 billion, a PE ratio of 15.59 and a beta of 1.06.

Raymond James (NYSE:RJFGet Rating) last issued 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). Raymond James had a net margin of 13.58% and a return on equity of 17.94%. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts predict that Raymond James will post 7.43 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, September 30th. Raymond James’s payout ratio is 19.37%.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 4,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $106.75, for a total value of $427,000.00. Following 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 is available through this hyperlink. 10.25% of the stock is owned by insiders.

About Raymond James

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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.

Further Reading

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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