Guinness Asset Management LTD Sells 370 Shares of Raymond James (NYSE:RJF)

Guinness Asset Management LTD lowered its position in Raymond James (NYSE:RJF) by 10.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,248 shares of the financial services provider’s stock after selling 370 shares during the period. Guinness Asset Management LTD’s holdings in Raymond James were worth $398,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC raised its stake in shares of Raymond James by 36.9% in the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after acquiring an additional 2,328 shares during the last quarter. Norden Group LLC raised its position in Raymond James by 3,257.7% in the 1st quarter. Norden Group LLC now owns 84,949 shares of the financial services provider’s stock worth $10,908,000 after purchasing an additional 82,419 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Raymond James by 5.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 225,331 shares of the financial services provider’s stock worth $28,937,000 after purchasing an additional 11,427 shares during the last quarter. Bessemer Group Inc. raised its position in Raymond James by 1,138.5% in the 1st quarter. Bessemer Group Inc. now owns 19,036 shares of the financial services provider’s stock worth $2,445,000 after purchasing an additional 17,499 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Raymond James by 44.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,600 shares of the financial services provider’s stock worth $2,260,000 after purchasing an additional 5,427 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 2.5 %

RJF traded up $3.21 during trading on Friday, reaching $129.95. 1,094,628 shares of the company’s stock were exchanged, compared to its average volume of 1,110,966. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The firm has a market capitalization of $26.76 billion, a PE ratio of 14.65, a P/E/G ratio of 0.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The company’s fifty day moving average price is $118.82 and its 200-day moving average price is $120.69.

Raymond James (NYSE:RJF) last announced 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. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the business earned $1.85 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that Raymond James will post 9.57 EPS for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.39%. Raymond James’s dividend payout ratio is currently 20.29%.

Insider Activity at Raymond James

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on RJF shares. Wells Fargo & Company boosted their price objective on shares of Raymond James from $138.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. JMP Securities upgraded shares of Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price objective for the company in a research report on Wednesday. UBS Group dropped their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $133.36.

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.