Citizens Financial Group Inc. RI Has $6.25 Million Stake in Raymond James (NYSE:RJF)

Citizens Financial Group Inc. RI increased its stake in shares of Raymond James (NYSE:RJF) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,568 shares of the financial services provider’s stock after buying an additional 456 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Raymond James were worth $6,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC boosted its position in 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 buying an additional 93 shares in the last quarter. Gilliland Jeter Wealth Management LLC grew its position 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 worth $771,000 after acquiring an additional 96 shares during the last quarter. Oarsman Capital Inc. increased its holdings in Raymond James by 0.9% in the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 99 shares in the last quarter. Covestor Ltd raised its position in 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 boosted its stake in shares of Raymond James by 0.3% during 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 in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research reports. 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 report on Tuesday, July 9th. Wells Fargo & Company began coverage on shares of Raymond James in a research note on Thursday, September 12th. They set an “overweight” rating and a $138.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. TD Cowen raised their target price on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, Jefferies Financial Group upped their price target on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $130.70.

Insider Buying and Selling at Raymond James

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated 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 approximately $3,879,063.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related 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 transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Stock Up 1.6 %

Shares of NYSE:RJF opened at $119.77 on Tuesday. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The business’s 50-day moving average is $115.20 and its 200-day moving average is $120.29. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.79 and a beta of 1.02.

Raymond James (NYSE:RJF) last issued 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 firm 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 company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 earnings per share. Equities research analysts predict that Raymond James will post 9.58 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

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.