University of Notre Dame DU Lac acquired a new position in shares of Raymond James (NYSE:RJF) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 100,456 shares of the financial services provider’s stock, valued at approximately $9,247,000. Raymond James makes up about 1.7% of University of Notre Dame DU Lac’s portfolio, making the stock its 26th largest position. University of Notre Dame DU Lac owned approximately 0.07% of Raymond James at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of RJF. Willingdon Wealth Management bought a new position in shares of Raymond James in the second quarter worth approximately $112,000. Rehmann Capital Advisory Group raised its holdings in shares of Raymond James by 57.7% during the second quarter. Rehmann Capital Advisory Group now owns 1,448 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 530 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Raymond James by 86.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,405 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 651 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Raymond James during the second quarter valued at approximately $135,000. Finally, CENTRAL TRUST Co raised its holdings in shares of Raymond James by 59.9% during the third quarter. CENTRAL TRUST Co now owns 1,868 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 700 shares during the last quarter. 72.74% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Buckingham Research decreased their price objective on shares of Raymond James from $117.00 to $111.00 and set a “buy” rating for the company in a report on Friday, October 26th. Zacks Investment Research raised shares of Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Wells Fargo & Co decreased their price objective on shares of Raymond James from $111.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Goldman Sachs Group assumed coverage on shares of Raymond James in a report on Tuesday, November 27th. They set a “neutral” rating and a $85.00 price objective for the company. Finally, Wolfe Research assumed coverage on shares of Raymond James in a report on Tuesday, September 25th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Raymond James currently has a consensus rating of “Hold” and an average price target of $100.63.
RJF stock traded down $1.57 during midday trading on Tuesday, reaching $78.26. 9,888 shares of the company’s stock traded hands, compared to its average volume of 1,069,181. Raymond James has a 52-week low of $71.93 and a 52-week high of $102.17. The stock has a market cap of $11.42 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.63 and a beta of 1.74. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42.
Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $1.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.13). Raymond James had a net margin of 11.46% and a return on equity of 15.72%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.91 billion. As a group, equities analysts forecast that Raymond James will post 7.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Thursday, January 3rd will be issued a dividend of $0.34 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, January 2nd. Raymond James’s dividend payout ratio is currently 18.55%.
Raymond James 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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