Andra AP fonden reduces holdings in Raymond James (NYSE:RJF)

VaselineSeptember 12, 2024

0 5 minutes read

Andra AP fonden cut its holdings in Raymond James (NYSE:RJF – Free Report) by 14.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,200 shares of the financial services provider’s stock after selling 7,000 shares during the period. Andra AP fonden’s holdings in Raymond James were worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Private Advisor Group LLC grew its position in shares of Raymond James by 3.6% in the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC grew its position in shares of Raymond James by 1.6% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares during the last quarter. Oarsman Capital Inc. raised its position in shares of Raymond James by 0.9% in the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after purchasing an additional 99 shares during the last quarter. Covestor Ltd grew its position 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 valued at $31,000 after purchasing an additional 104 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Raymond James by 0.3% in the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock valued at $5,332,000 after purchasing an additional 107 shares during the last quarter. 83.83% of the shares are currently owned by hedge funds and other institutional investors.

Analyst upgrades and downgrades

RJF has been the subject of several analyst reports. UBS Group decreased 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. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Jefferies Financial Group boosted their price objective on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, TD Cowen boosted their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Raymond James presently has a consensus rating of “Hold” and an average target price of $129.89, based on data from MarketBeat.com.

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Shares in Raymond James fell 0.3%

NYSE:RJF opened at $115.95 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.02, and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average is $115.26, and the two hundred day moving average is $120.32. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The stock has a market cap of $23.88 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.78 and a beta of 1.02.

Raymond James (NYSE:RJF – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.08. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.85 per share. research analysts anticipate that Raymond James will post 9.58 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.45 dividend. This represents an annualized dividend of $1.80 and a dividend yield of 1.55%. The ex-dividend date is Tuesday, October 1st. Raymond James’ payout ratio is currently 21.77%.

Indoor activity

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s shares.

Profile Raymond James

(Free Report)

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 international. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank and other segments.