NorthRock Partners LLC Sells 376 Shares of Raymond James (NYSE:RJF)

NorthRock Partners LLC trimmed its position in shares of Raymond James (NYSE:RJF) by 17.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,748 shares of the financial services provider’s stock after selling 376 shares during the period. NorthRock Partners LLC’s holdings in Raymond James were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC increased its holdings in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP bought a new stake in shares of Raymond James during the 2nd quarter valued at $29,000. Smithfield Trust Co lifted its holdings in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Covestor Ltd boosted its stake in Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the third quarter worth about $32,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on RJF shares. TD Cowen raised their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JMP Securities lifted their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Bank of America lifted their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased 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 report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $140.91.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.74% of the stock is currently owned by company insiders.

Raymond James Price Performance

RJF stock opened at $160.79 on Thursday. The firm has a market cap of $33.11 billion, a P/E ratio of 16.56, a P/E/G ratio of 0.73 and a beta of 0.99. The firm’s fifty day moving average is $128.52 and its 200 day moving average is $122.49. Raymond James has a 52 week low of $98.72 and a 52 week high of $161.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 EPS. Research analysts predict that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Raymond James’s payout ratio is 18.54%.

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.