Agate Pass Investment Management LLC Sells 500 Shares of Raymond James (NYSE:RJF)

Agate Pass Investment Management LLC lessened its holdings in Raymond James (NYSE:RJF) by 14.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,968 shares of the financial services provider’s stock after selling 500 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Raymond James were worth $363,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Wedmont Private Capital grew its holdings in shares of Raymond James by 5.1% during the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after buying an additional 86 shares during the last quarter. Private Advisor Group LLC boosted its stake in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC increased its holdings 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 purchasing an additional 96 shares in the last quarter. Oarsman Capital Inc. raised its stake in shares of Raymond James by 0.9% in the fourth 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 during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of 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 in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen upped their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. The Goldman Sachs Group lowered their target price on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. UBS Group dropped their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. dropped their target price 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $133.36.

Insider Activity

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The trade was a 0.00 % decrease in their position. The transaction 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 company’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 sale, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

NYSE:RJF opened at $126.76 on Friday. The company has a market capitalization of $26.10 billion, a P/E ratio of 14.29, a P/E/G ratio of 0.89 and a beta of 1.02. The business has a fifty day simple moving average of $118.40 and a two-hundred day simple moving average of $120.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that Raymond James will post 9.57 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. Raymond James’s payout ratio is 20.29%.

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.