Collective Family Office LLC Has $284,000 Stock Position in Raymond James (NYSE:RJF)

Collective Family Office LLC cut its stake in shares of Raymond James (NYSE:RJF) by 20.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,734 shares of the financial services provider’s stock after selling 700 shares during the period. Collective Family Office LLC’s holdings in Raymond James were worth $284,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Raymond James by 80.5% in the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after acquiring an additional 2,510,966 shares in the last quarter. Norges Bank acquired a new stake in shares of Raymond James in the fourth quarter valued at approximately $206,765,000. FMR LLC boosted its stake in shares of Raymond James by 19.4% in the first quarter. FMR LLC now owns 9,993,550 shares of the financial services provider’s stock valued at $932,098,000 after buying an additional 1,625,771 shares during the period. JPMorgan Chase & Co. grew its position in Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock worth $641,330,000 after buying an additional 1,448,047 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Raymond James by 214.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock valued at $106,474,000 after acquiring an additional 778,644 shares in the last quarter. Institutional investors own 75.00% of the company’s stock.

Insider Activity

In other news, insider Horace Carter sold 3,753 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $109.12, for a total value of $409,527.36. Following the completion of the sale, the insider now directly owns 19,515 shares in the company, valued at approximately $2,129,476.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RJF. Jefferies Financial Group increased their target price on Raymond James from $112.00 to $120.00 in a report on Monday, July 10th. Morgan Stanley dropped their target price on shares of Raymond James from $112.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, July 31st. JPMorgan Chase & Co. began coverage on shares of Raymond James in a research report on Tuesday. They set a “neutral” rating and a $121.00 price target on the stock. Bank of America started coverage on shares of Raymond James in a research report on Monday, September 11th. They set a “buy” rating and a $122.00 price objective for the company. Finally, StockNews.com assumed coverage on Raymond James in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $118.33.

Raymond James Price Performance

Raymond James stock opened at $107.16 on Tuesday. The stock’s 50 day moving average is $106.71 and its 200 day moving average is $98.51. Raymond James has a one year low of $82.00 and a one year high of $126.00. The firm has a market cap of $22.38 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.95.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.85 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.25). The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.91 billion. Raymond James had a net margin of 13.98% and a return on equity of 18.73%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 EPS. As a group, research analysts expect that Raymond James will post 8.53 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, September 29th. Raymond James’s payout ratio is 21.21%.

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.