Raymond James (NYSE:RJF) Shares Acquired by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lifted its position in Raymond James (NYSE:RJF - Free Report) by 191.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 722,393 shares of the financial services provider's stock after purchasing an additional 474,443 shares during the period. Raymond James accounts for about 1.7% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 13th biggest position. Ceredex Value Advisors LLC owned approximately 0.35% of Raymond James worth $88,464,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after purchasing an additional 198 shares during the period. Quarry LP purchased a new stake in Raymond James during the second quarter worth $29,000. Smithfield Trust Co grew its position in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 126 shares during the period. Covestor Ltd grew its holdings in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 104 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the 3rd quarter valued at $32,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Raymond James Stock Performance

Shares of RJF traded down $3.93 during midday trading on Friday, reaching $144.29. 1,540,057 shares of the stock were exchanged, compared to its average volume of 1,417,884. The company has a market capitalization of $29.72 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 0.75 and a beta of 0.98. Raymond James has a twelve month low of $97.05 and a twelve month high of $151.59. The business's 50-day moving average price is $127.40 and its 200 day moving average price is $122.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99.

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, 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 firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the company posted $2.13 earnings per share. The business's revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that Raymond James will post 10.73 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James's payout ratio is 18.54%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group dropped their price target on Raymond James from $138.00 to $135.00 and set a "neutral" rating for the company in a research report on Tuesday, July 9th. Morgan Stanley lifted their target price on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research report on Tuesday. Wolfe Research reaffirmed a "peer perform" rating on shares of Raymond James in a research report on Monday, July 8th. TD Cowen raised their target price on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Raymond James presently has a consensus rating of "Hold" and an average price target of $140.91.

About Raymond James

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.