Bank of Nova Scotia Has $531,000 Stake in Raymond James (NYSE:RJF)

Bank of Nova Scotia decreased its position in Raymond James (NYSE:RJFGet Rating) by 75.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,941 shares of the financial services provider’s stock after selling 18,625 shares during the period. Bank of Nova Scotia’s holdings in Raymond James were worth $531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation N.A. lifted its holdings in Raymond James by 222.5% in the second quarter. Zions Bancorporation N.A. now owns 287 shares of the financial services provider’s stock valued at $26,000 after buying an additional 198 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Raymond James by 365.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 298 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 234 shares in the last quarter. Covestor Ltd increased its stake in Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 138 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Raymond James by 334.1% in the second quarter. JFS Wealth Advisors LLC now owns 382 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 294 shares in the last quarter. Finally, Clear Street Markets LLC increased its stake in Raymond James by 434.2% in the second quarter. Clear Street Markets LLC now owns 406 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $106.75, for a total value of $427,000.00. Following the transaction, the insider now owns 21,096 shares in the company, valued at $2,251,998. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.25% of the company’s stock.

Analyst Upgrades and Downgrades

RJF has been the subject of several research analyst reports. Credit Suisse Group decreased their price target on shares of Raymond James to $118.00 in a research note on Friday, November 4th. Jefferies Financial Group lifted their target price 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. Citigroup initiated coverage on shares of Raymond James in a research note on Tuesday, October 11th. They set a “neutral” rating and a $117.00 price target for the company. Morgan Stanley raised their price target on shares of Raymond James from $113.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 31st. Finally, StockNews.com upgraded shares of Raymond James from a “hold” rating to a “buy” rating in a research note on Friday, October 28th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Raymond James Stock Performance

NYSE RJF opened at $121.59 on Monday. Raymond James has a 52-week low of $84.86 and a 52-week high of $126.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market capitalization of $26.24 billion, a P/E ratio of 17.42 and a beta of 1.07. The company has a fifty day moving average of $109.72 and a 200-day moving average of $101.45.

Raymond James (NYSE:RJFGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.08. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.75 billion. Raymond James had a net margin of 13.35% and a return on equity of 17.90%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.06 earnings per share. As a group, equities research analysts predict that Raymond James will post 9.44 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Monday, October 3rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, September 30th. Raymond James’s payout ratio is 19.48%.

Raymond James Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJFGet Rating).

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

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