Y Intercept Hong Kong Ltd Acquires New Position in Raymond James (NYSE:RJF)

Y Intercept Hong Kong Ltd bought a new stake in Raymond James (NYSE:RJF - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,783 shares of the financial services provider's stock, valued at approximately $463,000.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in Raymond James by 5.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,848 shares of the financial services provider's stock valued at $599,000 after acquiring an additional 256 shares during the last quarter. &PARTNERS purchased a new stake in Raymond James during the second quarter valued at about $314,000. New York State Teachers Retirement System increased its holdings in shares of Raymond James by 4.6% in the second quarter. New York State Teachers Retirement System now owns 224,518 shares of the financial services provider's stock worth $27,753,000 after buying an additional 9,852 shares during the period. Family Firm Inc. bought a new stake in shares of Raymond James in the 2nd quarter valued at about $69,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in Raymond James by 1.6% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider's stock valued at $771,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RJF shares. Jefferies Financial Group increased 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. The Goldman Sachs Group boosted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. JMP Securities raised their target price on Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 24th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $169.00 target price (up from $152.00) on shares of Raymond James in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and three have issued 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 $142.45.

Raymond James Stock Down 0.0 %

NYSE RJF traded down $0.08 during mid-day trading on Monday, reaching $160.41. The stock had a trading volume of 1,079,748 shares, compared to its average volume of 1,139,818. The stock has a market cap of $32.73 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company has a fifty day moving average price of $153.15 and a 200 day moving average price of $130.39.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the business earned $2.13 earnings per share. The company's revenue was up 13.4% on a year-over-year basis. On average, research analysts expect that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. Raymond James's payout ratio is currently 18.54%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. This represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 over the last three months. Insiders own 9.74% of the company's stock.

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.