Securian Asset Management Inc. Trims Position in Raymond James (NYSE:RJF)

Securian Asset Management Inc. lessened its stake in shares of Raymond James (NYSE:RJF) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,722 shares of the financial services provider’s stock after selling 343 shares during the quarter. Securian Asset Management Inc.’s holdings in Raymond James were worth $1,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Smithfield Trust Co boosted its holdings in Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd grew its stake in Raymond James by 77.0% during the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the fourth quarter worth $33,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James in the first quarter valued at $33,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Raymond James by 46.9% during the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 137 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Raymond James

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on RJF shares. Jefferies Financial Group lifted their target price on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Bank of America decreased their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. dropped 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. UBS Group cut their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Raymond James has a consensus rating of “Hold” and a consensus target price of $129.89.

Raymond James Stock Performance

Shares of RJF traded down $0.23 during trading hours on Monday, hitting $109.95. The company’s stock had a trading volume of 458,734 shares, compared to its average volume of 1,145,257. The business has a 50 day simple moving average of $116.90 and a two-hundred day simple moving average of $120.05. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.73 and a beta of 1.02. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98.

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, topping the consensus estimate of $2.31 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 18.67% 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 quarter in the previous year, the company posted $1.85 earnings per share. On average, equities analysts expect that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.45 dividend. The ex-dividend date was Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.64%. Raymond James’s dividend payout ratio (DPR) is 21.77%.

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.