Raymond James (NYSE:RJF) Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. raised its stake in shares of Raymond James (NYSE:RJF - Free Report) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 975,601 shares of the financial services provider's stock after buying an additional 78,202 shares during the quarter. Congress Asset Management Co. owned about 0.47% of Raymond James worth $119,472,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pinnacle Associates Ltd. increased its stake in Raymond James by 2.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 226,342 shares of the financial services provider's stock worth $25,237,000 after buying an additional 4,752 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Raymond James by 32.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,033 shares of the financial services provider's stock worth $739,000 after acquiring an additional 1,486 shares during the period. abrdn plc lifted its holdings in shares of Raymond James by 28.6% during the 3rd quarter. abrdn plc now owns 54,743 shares of the financial services provider's stock valued at $6,676,000 after acquiring an additional 12,174 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Raymond James by 5.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 92,822 shares of the financial services provider's stock valued at $11,367,000 after buying an additional 5,100 shares during the last quarter. Finally, Cavalier Investments LLC lifted its stake in shares of Raymond James by 6.6% in the 3rd quarter. Cavalier Investments LLC now owns 7,815 shares of the financial services provider's stock worth $957,000 after acquiring an additional 483 shares during the period. Institutional investors own 83.83% of the company's stock.

Insider Buying and Selling

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm'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 completion of the transaction, the chief executive officer now owns 35,380 shares of the company's stock, valued at $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 available at this hyperlink. 9.74% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on RJF. Wolfe Research reaffirmed a "peer perform" rating on shares of Raymond James in a research report on Monday, July 8th. Jefferies Financial Group boosted their price objective on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research note on Friday, October 4th. TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday. UBS Group dropped 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. Finally, The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Raymond James has an average rating of "Hold" and an average target price of $140.91.

Raymond James Stock Performance

Shares of NYSE:RJF traded down $0.83 on Thursday, reaching $148.22. 1,174,832 shares of the company's stock were exchanged, compared to its average volume of 1,139,706. The business's 50-day moving average is $126.85 and its two-hundred day moving average is $122.01. The firm has a market capitalization of $30.52 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.76 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a fifty-two week low of $94.53 and a fifty-two week high of $151.59.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.13 earnings per share. As a group, equities research analysts forecast that Raymond James will post 10.32 EPS for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given 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 1.21%. Raymond James's dividend payout ratio is currently 18.54%.

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.