CWA Asset Management Group LLC Buys New Stake in Raymond James (NYSE:RJF)

CWA Asset Management Group LLC acquired a new position in Raymond James (NYSE:RJF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 75,069 shares of the financial services provider's stock, valued at approximately $9,193,000.

Several other hedge funds have also added to or reduced their stakes in the business. Wedmont Private Capital lifted its stake in Raymond James by 5.1% in the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider's stock worth $222,000 after acquiring an additional 86 shares during the period. Private Advisor Group LLC raised its position in Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider's stock worth $344,000 after buying an additional 93 shares during the last quarter. Portside Wealth Group LLC raised its holdings in shares of Raymond James by 3.9% during the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC boosted its stake in shares of Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider's stock worth $771,000 after buying an additional 96 shares during the last quarter. Finally, Covestor Ltd boosted its position in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider's stock worth $31,000 after purchasing an additional 104 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Up 1.5 %

Shares of RJF traded up $2.30 during mid-day trading on Friday, hitting $158.73. The company's stock had a trading volume of 1,218,949 shares, compared to its average volume of 1,147,180. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The company's 50-day moving average is $130.92 and its 200-day moving average is $123.19. Raymond James has a 52-week low of $98.72 and a 52-week high of $161.76. The firm has a market capitalization of $32.69 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.81 and a beta of 0.99.

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 for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. Raymond James's revenue was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Raymond James will post 10.73 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.13%. Raymond James's dividend payout ratio (DPR) is presently 18.54%.

Analysts Set New Price Targets

RJF has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, October 4th. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. JMP Securities lifted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their target price on Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $140.91.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.74% of the stock is currently owned by corporate insiders.

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.