Massmutual Trust Co. FSB ADV Buys 173 Shares of Raymond James (NYSE:RJF)

Massmutual Trust Co. FSB ADV grew its position in Raymond James (NYSE:RJF) by 33.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 695 shares of the financial services provider’s stock after purchasing an additional 173 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Raymond James were worth $86,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Ontario Teachers Pension Plan Board raised its position in shares of Raymond James by 4.4% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 240 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its stake in Raymond James by 86.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock valued at $493,000 after buying an additional 2,047 shares during the last quarter. Hsbc Holdings PLC lifted its position in Raymond James by 25.4% during the 4th quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock worth $49,603,000 after buying an additional 89,981 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Raymond James by 36.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider’s stock valued at $1,109,000 after acquiring an additional 2,328 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Raymond James by 44.5% in the fourth quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock valued at $12,349,000 after purchasing an additional 34,101 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Up 1.4 %

Shares of Raymond James stock traded up $1.46 on Tuesday, reaching $107.85. The stock had a trading volume of 1,795,721 shares, compared to its average volume of 1,153,623. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The company has a 50 day moving average price of $118.02 and a 200 day moving average price of $120.17. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $22.36 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.74 and a beta of 1.02.

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 analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a return on equity of 18.67% and a net margin of 13.16%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the firm posted $1.85 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is 21.77%.

Insider Activity

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

Analyst Ratings Changes

RJF has been the subject of several recent analyst reports. Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Bank of America reduced their price target on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, Jefferies Financial Group raised their price objective on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $129.89.

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.