Gladstone Institutional Advisory LLC Buys 224 Shares of Raymond James (NYSE:RJF)

Gladstone Institutional Advisory LLC lifted its holdings in Raymond James (NYSE:RJF) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,004 shares of the financial services provider’s stock after buying an additional 224 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Raymond James were worth $1,004,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Steph & Co. increased its holdings in shares of Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after buying an additional 91 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after buying an additional 96 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Raymond James by 3.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock worth $387,000 after buying an additional 118 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Raymond James by 3.3% in the 3rd quarter. Greenleaf Trust now owns 3,683 shares of the financial services provider’s stock worth $370,000 after buying an additional 118 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Price Performance

Shares of RJF opened at $124.79 on Wednesday. The company has a 50 day moving average price of $125.00 and a 200-day moving average price of $116.00. Raymond James has a fifty-two week low of $88.81 and a fifty-two week high of $131.19. The stock has a market capitalization of $25.87 billion, a PE ratio of 15.09, a PEG ratio of 0.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. Raymond James’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 EPS. Equities analysts predict that Raymond James will post 9.53 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, July 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insider Buying and Selling

In related news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RJF shares. JMP Securities restated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. TD Cowen dropped their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group dropped their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Finally, Bank of America dropped their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $126.22.

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.