Raymond James (NYSE:RJF) is New England Professional Planning Group Inc.’s 5th Largest Position

New England Professional Planning Group Inc. boosted its holdings in Raymond James (NYSE:RJF) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,800 shares of the financial services provider’s stock after buying an additional 156 shares during the period. Raymond James makes up 2.8% of New England Professional Planning Group Inc.’s investment portfolio, making the stock its 5th biggest holding. New England Professional Planning Group Inc.’s holdings in Raymond James were worth $5,290,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Smithfield Trust Co lifted its holdings in shares of 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 acquiring an additional 126 shares during the last quarter. Covestor Ltd lifted its stake in Raymond James by 77.0% in the first 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 last quarter. OLD Point Trust & Financial Services N A bought 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 worth $33,000. Finally, FinTrust Capital Advisors LLC lifted its stake in Raymond James by 46.9% in the first quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 137 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Up 1.0 %

Shares of NYSE RJF traded up $1.20 during midday trading on Friday, hitting $119.57. 961,449 shares of the company traded hands, compared to its average volume of 1,033,351. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The stock has a 50-day moving average price of $116.00 and a 200 day moving average price of $120.33. The firm has a market cap of $24.62 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.81 and a beta of 1.02.

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

Raymond James Announces Dividend

The firm also recently disclosed 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 1.51%. The ex-dividend date of this dividend is Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insiders Place Their Bets

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 owns 75,586 shares in the company, valued at $8,692,390. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent research reports. TD Cowen boosted their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. 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. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. UBS Group decreased their price objective 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. Finally, Jefferies Financial Group boosted their price objective on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $129.89.

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.