Kovitz Investment Group Partners LLC decreased its stake in Raymond James (NYSE:RJF - Free Report) by 52.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,527 shares of the financial services provider's stock after selling 6,091 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Raymond James were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC increased its holdings in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP bought a new position in Raymond James in the second quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 3rd quarter worth $32,000. Gladius Capital Management LP acquired a new position in Raymond James in the 3rd quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. bought a new position in Raymond James during the third quarter worth $37,000. Institutional investors and hedge funds own 83.83% of the company's stock.
Shares of Raymond James stock opened at $161.51 on Thursday. The stock has a market capitalization of $32.96 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The company has a 50-day simple moving average of $151.07 and a two-hundred day simple moving average of $129.56. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38.
Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.32 billion. During the same quarter in the prior year, the business earned $2.13 EPS. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, January 2nd. This is a boost from Raymond James's previous quarterly dividend of $0.45. Raymond James's dividend payout ratio is 20.60%.
In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,621 shares of company stock valued at $9,134,788. 9.74% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on RJF shares. Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, October 4th. The Goldman Sachs Group raised their price target on Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. JMP Securities raised their price target on shares of Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a report on Thursday, October 24th. Morgan Stanley upped their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company increased their price objective on Raymond James from $140.00 to $152.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Nine equities 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.com, Raymond James currently has an average rating of "Hold" and a consensus target price of $140.91.
Get Our Latest Analysis on Raymond James
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.
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