Marshall Wace LLP Sells 456,322 Shares of Raymond James (NYSE:RJF)

Marshall Wace LLP decreased its holdings in Raymond James (NYSE:RJF - Free Report) by 31.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 981,656 shares of the financial services provider's stock after selling 456,322 shares during the period. Marshall Wace LLP owned about 0.48% of Raymond James worth $121,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd grew its holdings in shares of 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 acquiring an additional 104 shares during the period. Smithfield Trust Co grew its holdings in shares of Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider's stock worth $31,000 after acquiring an additional 126 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the first quarter worth $33,000. OLD Point Trust & Financial Services N A purchased a new position in Raymond James during the fourth quarter valued at $33,000. Finally, FinTrust Capital Advisors LLC lifted its position in Raymond James by 46.9% during the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RJF shares. Wells Fargo & Company started coverage on Raymond James in a research report on Thursday, September 12th. They set an "overweight" rating and a $138.00 target price on the stock. Jefferies Financial Group lifted their target price on Raymond James from $122.00 to $123.00 and gave the company a "hold" rating in a research report on Monday, July 8th. UBS Group lowered their target price on Raymond James from $138.00 to $135.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 9th. Wolfe Research reiterated a "peer perform" rating on shares of Raymond James in a research report on Monday, July 8th. Finally, TD Cowen lifted their target price on Raymond James from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Raymond James currently has a consensus rating of "Hold" and an average price target of $130.70.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company's stock, valued at $3,879,063.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares of the company's stock, valued at $8,692,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was 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 $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Raymond James Price Performance

Shares of NYSE:RJF traded down $0.52 during mid-day trading on Tuesday, reaching $124.16. The stock had a trading volume of 863,886 shares, compared to its average volume of 1,111,319. 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 has a market cap of $25.74 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.81 and a beta of 1.02. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The business's 50 day moving average price is $115.47 and its 200 day moving average price is $120.36.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. Research analysts expect that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.45%. Raymond James's dividend payout ratio is currently 21.77%.

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.