Sanctuary Advisors LLC Acquires 2,193 Shares of Raymond James (NYSE:RJF)

Sanctuary Advisors LLC grew its holdings in Raymond James (NYSE:RJF) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,549 shares of the financial services provider’s stock after purchasing an additional 2,193 shares during the period. Sanctuary Advisors LLC’s holdings in Raymond James were worth $3,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its position in Raymond James by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after acquiring an additional 7,028 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Raymond James during the 3rd quarter worth $3,561,000. XTX Topco Ltd grew its position in Raymond James by 390.7% during the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 6,649 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Raymond James by 109.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after acquiring an additional 58,200 shares during the last quarter. Finally, Raymond James Trust N.A. grew its position in Raymond James by 10.4% during the 2nd quarter. Raymond James Trust N.A. now owns 202,221 shares of the financial services provider’s stock worth $24,997,000 after acquiring an additional 18,968 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity

In related news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 in the last ninety days. 9.74% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities boosted their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $169.00 target price (up from $152.00) on shares of Raymond James in a report on Thursday, December 12th. Jefferies Financial Group lifted their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Bank of America lifted their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $142.45.

Raymond James Stock Down 1.6 %

Shares of NYSE:RJF opened at $157.90 on Wednesday. The company has a market capitalization of $32.22 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.91 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The business’s 50-day moving average is $153.81 and its 200-day moving average is $130.64. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.13 EPS. Equities research analysts predict that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s payout ratio is currently 20.60%.

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.