Toronto Dominion Bank Purchases 2,158 Shares of Raymond James (NYSE:RJF)

Toronto Dominion Bank boosted its holdings in Raymond James (NYSE:RJF - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,697 shares of the financial services provider's stock after buying an additional 2,158 shares during the quarter. Toronto Dominion Bank's holdings in Raymond James were worth $10,670,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RJF. Assetmark Inc. grew its position in Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock worth $70,000 after purchasing an additional 138 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Raymond James during the 4th quarter worth approximately $105,701,000. J.W. Cole Advisors Inc. purchased a new position in Raymond James during the 4th quarter worth approximately $511,000. Proficio Capital Partners LLC purchased a new position in Raymond James during the 4th quarter worth approximately $21,334,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Raymond James during the 4th quarter worth approximately $625,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Analysts Set New Price Targets

RJF has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen lowered shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Morgan Stanley boosted their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Cowen reissued a "hold" rating on shares of Raymond James in a research report on Thursday, April 24th. Finally, Citigroup cut their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $153.82.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider now owns 74,586 shares of the company's stock, valued at $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider now directly owns 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Raymond James Stock Performance

Shares of RJF traded down $1.65 during trading hours on Monday, reaching $145.33. 963,896 shares of the company traded hands, compared to its average volume of 1,311,713. The stock's fifty day moving average is $140.29 and its 200 day moving average is $151.85. The stock has a market cap of $29.32 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 EPS. Equities research analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James's dividend payout ratio is currently 19.25%.

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.