Raymond James (NYSE:RJF) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its holdings in Raymond James (NYSE:RJF - Free Report) by 28.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,539 shares of the financial services provider's stock after selling 26,568 shares during the quarter. Toronto Dominion Bank's holdings in Raymond James were worth $8,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC raised 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 last quarter. Quarry LP purchased a new position in shares of Raymond James in the second quarter worth approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James during the 3rd quarter worth $32,000. Gladius Capital Management LP bought a new stake in Raymond James during the third quarter valued at about $34,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $37,000. Institutional investors own 83.83% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RJF. The Goldman Sachs Group increased their price target on Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Bank of America upped their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Jefferies Financial Group raised 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. JMP Securities lifted their price target 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, TD Cowen upped their price objective on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $142.45.

Raymond James Stock Up 0.1 %

Shares of RJF traded up $0.12 during trading hours on Friday, hitting $160.49. The company had a trading volume of 1,643,234 shares, compared to its average volume of 1,033,403. The company has a market capitalization of $32.75 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company's fifty day moving average price is $152.45 and its two-hundred day moving average price is $130.12. Raymond James has a one year low of $104.24 and a one year high of $171.38.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data 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 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. During the same quarter last year, the firm earned $2.13 EPS. The business's quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities analysts forecast that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. This is an increase from Raymond James's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James's dividend payout ratio is presently 18.54%.

Insider Activity

In related news, CEO Paul C. Reilly sold 50,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,621 shares of company stock valued at $9,134,788. Company insiders own 9.74% of the company's stock.

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.