Schneider Downs Wealth Management Advisors LP Grows Stock Holdings in Raymond James (NYSE:RJF)

Schneider Downs Wealth Management Advisors LP boosted its holdings in Raymond James (NYSE:RJF) by 363.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,546 shares of the financial services provider’s stock after buying an additional 16,901 shares during the quarter. Raymond James makes up about 0.5% of Schneider Downs Wealth Management Advisors LP’s holdings, making the stock its 27th largest position. Schneider Downs Wealth Management Advisors LP’s holdings in Raymond James were worth $2,639,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Metis Global Partners LLC increased its position in shares of Raymond James by 1.4% during the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 82 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Raymond James by 5.1% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 86 shares during the period. Portside Wealth Group LLC raised its position in Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 93 shares during the last quarter. Gilliland Jeter Wealth Management LLC boosted its stake 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 during the period. Finally, Covestor Ltd increased 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 valued at $31,000 after purchasing an additional 104 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RJF shares. JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Bank of America upped their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company boosted their price target on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $140.91.

Raymond James Trading Up 0.3 %

Shares of Raymond James stock opened at $160.68 on Friday. The company has a 50-day moving average of $135.23 and a two-hundred day moving average of $124.52. Raymond James has a 12-month low of $102.42 and a 12-month high of $163.45. 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 stock has a market cap of $33.09 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 earnings per share. On average, research analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Tuesday, October 1st. Raymond James’s payout ratio is currently 18.54%.

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.