US Bancorp DE cut its stake in Raymond James (NYSE:RJF) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,204 shares of the financial services provider’s stock after selling 4,164 shares during the period. US Bancorp DE’s holdings in Raymond James were worth $5,428,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. boosted its holdings in Raymond James by 94.0% in the second quarter. Carroll Financial Associates Inc. now owns 8,876 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 4,301 shares during the period. Andra AP fonden purchased a new position in Raymond James in the first quarter valued at $5,548,000. Atlas Capital Advisors LLC purchased a new position in Raymond James in the second quarter valued at $31,000. Creative Planning boosted its holdings in Raymond James by 703.2% in the second quarter. Creative Planning now owns 52,355 shares of the financial services provider’s stock valued at $4,427,000 after purchasing an additional 45,837 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Raymond James by 90.8% in the second quarter. Prudential Financial Inc. now owns 226,506 shares of the financial services provider’s stock valued at $19,151,000 after purchasing an additional 107,764 shares during the period. Hedge funds and other institutional investors own 70.78% of the company’s stock.

Raymond James stock traded down $0.77 during midday trading on Thursday, reaching $85.09. The company’s stock had a trading volume of 466,358 shares, compared to its average volume of 780,185. Raymond James has a fifty-two week low of $69.11 and a fifty-two week high of $96.76. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The company has a market cap of $12.13 billion, a P/E ratio of 13.15 and a beta of 1.52. The business has a 50-day simple moving average of $78.83 and a 200-day simple moving average of $83.09.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($0.06). Raymond James had a net margin of 13.06% and a return on equity of 16.12%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts forecast that Raymond James will post 7.4 earnings per share for the current year.

In other news, CFO Jeffrey P. Julien sold 15,756 shares of Raymond James stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $78.59, for a total transaction of $1,238,264.04. Following the sale, the chief financial officer now owns 39,592 shares in the company, valued at $3,111,535.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan N. Santelli sold 1,200 shares of Raymond James stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $84.80, for a total value of $101,760.00. Following the sale, the executive vice president now owns 1,078 shares in the company, valued at approximately $91,414.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,354 shares of company stock worth $2,053,098. 10.74% of the stock is owned by insiders.

RJF has been the subject of a number of recent research reports. ValuEngine lowered Raymond James from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Citigroup decreased their target price on Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $93.75.

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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