Wetzel Investment Advisors Inc. Has $710,000 Holdings in Raymond James (NYSE:RJF)

Wetzel Investment Advisors Inc. increased its position in Raymond James (NYSE:RJF) by 9.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,529 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Raymond James were worth $710,000 at the end of the most recent reporting period.

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

Insider Activity

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 stock was sold at an average price of $115.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction 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 document filed with the SEC, which is available through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction 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 sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RJF shares. Jefferies Financial Group lifted their target price on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. lowered 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 note on Thursday, July 25th. UBS Group dropped their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Finally, TD Cowen increased their price objective on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $129.89.

Raymond James Stock Down 0.5 %

RJF stock opened at $116.31 on Wednesday. The stock has a market capitalization of $24.11 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 0.78 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $115.36 and a 200-day moving average price of $120.35. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19.

Raymond James (NYSE:RJF) last posted its earnings results 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. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Raymond James will post 9.58 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.55%. Raymond James’s dividend payout ratio is presently 21.77%.

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.