SYSTM Wealth Solutions LLC Raises Stake in Raymond James (NYSE:RJF)

SYSTM Wealth Solutions LLC lifted its position in shares of Raymond James (NYSE:RJF) by 4.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 43,067 shares of the financial services provider’s stock after purchasing an additional 1,851 shares during the quarter. Raymond James comprises approximately 1.2% of SYSTM Wealth Solutions LLC’s holdings, making the stock its 24th largest holding. SYSTM Wealth Solutions LLC’s holdings in Raymond James were worth $5,324,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RJF. Private Advisor Group LLC purchased a new stake in shares of Raymond James during the 4th quarter worth about $289,000. Quadrant Capital Group LLC boosted its holdings in Raymond James by 35.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,361 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 359 shares during the period. Great Lakes Advisors LLC purchased a new position in Raymond James in the 4th quarter worth approximately $207,000. Norges Bank purchased a new position in Raymond James in the 4th quarter worth approximately $238,830,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Raymond James in the 4th quarter worth approximately $1,108,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’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 sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction on 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 of the company’s stock, valued at $8,692,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

RJF stock opened at $120.68 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market cap of $24.85 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.79 and a beta of 1.02. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The stock’s 50 day simple moving average is $115.20 and its 200 day simple moving average is $120.29.

Raymond James (NYSE:RJF) last posted its quarterly earnings results 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 analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 EPS. As a group, equities research analysts predict that Raymond James will post 9.58 EPS for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio is currently 21.77%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Raymond James in a report on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price target for the company. Jefferies Financial Group upped their price target on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th. 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 report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, TD Cowen increased their target price on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.70.

Raymond James 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.