OLD Mutual Customised Solutions Proprietary Ltd. Has $625,000 Stake in Raymond James (RJF)

OLD Mutual Customised Solutions Proprietary Ltd. lessened its position in Raymond James (NYSE:RJF) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,000 shares of the financial services provider’s stock after selling 700 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Raymond James were worth $625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurich Insurance Group Ltd FI lifted its stake in shares of Raymond James by 22.5% in the second quarter. Zurich Insurance Group Ltd FI now owns 31,329 shares of the financial services provider’s stock worth $2,799,000 after buying an additional 5,745 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Raymond James during the second quarter valued at approximately $1,037,000. Marshall Wace LLP purchased a new position in shares of Raymond James during the second quarter valued at approximately $9,998,000. Signaturefd LLC raised its holdings in shares of Raymond James by 2,149.7% during the second quarter. Signaturefd LLC now owns 3,712 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 3,547 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Raymond James by 37.9% during the second quarter. Cubist Systematic Strategies LLC now owns 16,007 shares of the financial services provider’s stock valued at $1,430,000 after purchasing an additional 4,402 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

In other Raymond James news, President John C. Jr. Carson sold 5,698 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $92.66, for a total transaction of $527,976.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.46% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on RJF. Zacks Investment Research cut shares of Raymond James from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Citigroup boosted their price objective on shares of Raymond James from $95.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, June 15th. JMP Securities raised shares of Raymond James from a “market perform” rating to an “outperform” rating in a report on Friday, July 27th. Finally, ValuEngine cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, June 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Raymond James currently has an average rating of “Buy” and an average target price of $103.75.

RJF opened at $92.56 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.10. Raymond James has a twelve month low of $78.19 and a twelve month high of $102.17. The company has a market cap of $13.36 billion, a PE ratio of 17.70, a P/E/G ratio of 0.82 and a beta of 1.65.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.17). Raymond James had a net margin of 10.87% and a return on equity of 15.66%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. research analysts predict that Raymond James will post 6.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%. Raymond James’s dividend payout ratio is currently 22.94%.

Raymond James Company 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.

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

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