First Trust Advisors LP lifted its holdings in Raymond James (NYSE:RJF) by 21.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,708 shares of the financial services provider’s stock after purchasing an additional 21,803 shares during the period. First Trust Advisors LP owned 0.09% of Raymond James worth $10,028,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in RJF. Vanguard Group Inc lifted its position in Raymond James by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock worth $1,266,683,000 after acquiring an additional 182,616 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Raymond James by 3.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,294 shares of the financial services provider’s stock valued at $1,064,000 after acquiring an additional 483 shares during the period. Piedmont Investment Advisors Inc. increased its stake in Raymond James by 13.6% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 4,715 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 564 shares during the period. FDx Advisors Inc. grew its stake in Raymond James by 46.7% during the fourth quarter. FDx Advisors Inc. now owns 5,239 shares of the financial services provider’s stock worth $390,000 after buying an additional 1,668 shares during the last quarter. Finally, LPL Financial LLC grew its stake in Raymond James by 6.0% during the fourth quarter. LPL Financial LLC now owns 21,885 shares of the financial services provider’s stock worth $1,628,000 after buying an additional 1,243 shares during the last quarter. 70.05% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Paul C. Reilly sold 60,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $91.35, for a total value of $5,481,000.00. Following the completion of the transaction, the chief executive officer now owns 80,382 shares of the company’s stock, valued at $7,342,895.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey E. Trocin sold 13,157 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $91.11, for a total transaction of $1,198,734.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,881 shares of company stock valued at $10,012,987. 10.74% of the stock is owned by insiders.
Raymond James stock traded up $2.05 during mid-day trading on Friday, reaching $84.55. The company’s stock had a trading volume of 1,321,523 shares, compared to its average volume of 951,991. The stock has a market cap of $11.40 billion, a P/E ratio of 13.07 and a beta of 1.59. Raymond James has a 12 month low of $69.11 and a 12 month high of $97.62. The firm’s 50 day simple moving average is $84.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 1.08.
Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.14. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. Raymond James had a net margin of 12.90% and a return on equity of 15.90%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. As a group, analysts predict that Raymond James will post 7.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, June 28th. Raymond James’s dividend payout ratio (DPR) is currently 21.02%.
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.
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