Nicholas Company Inc. grew its position in Raymond James Financial, Inc. (NYSE:RJF) by 41.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,825 shares of the financial services provider’s stock after purchasing an additional 48,140 shares during the quarter. Nicholas Company Inc. owned about 0.11% of Raymond James Financial worth $13,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Burt Wealth Advisors purchased a new position in Raymond James Financial in the second quarter worth $150,000. Global X Management Co. LLC grew its holdings in Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 690 shares during the last quarter. Triangle Securities Wealth Management purchased a new position in Raymond James Financial in the second quarter worth $206,000. Pacer Advisors Inc. grew its holdings in Raymond James Financial by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 206 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Raymond James Financial in the second quarter worth $225,000. 70.03% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the transaction, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the transaction, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. Company insiders own 11.18% of the company’s stock.

Raymond James Financial, Inc. (NYSE:RJF) traded up 1.88% during midday trading on Friday, hitting $79.77. 1,211,249 shares of the stock traded hands. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 18.97 and a beta of 1.66. Raymond James Financial, Inc. has a one year low of $56.06 and a one year high of $85.97. The company has a 50-day moving average price of $79.42 and a 200 day moving average price of $77.71.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. Equities research analysts anticipate that Raymond James Financial, Inc. will post $5.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, September 29th. Raymond James Financial’s dividend payout ratio (DPR) is 20.90%.

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Several equities analysts have issued reports on RJF shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a report on Wednesday, May 24th. Instinet cut their price target on shares of Raymond James Financial to $89.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $85.00 price target (up from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. BidaskClub raised shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Finally, Buckingham Research reiterated a “buy” rating and set a $94.00 price objective (up from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.33.

About Raymond James Financial

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

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

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