RBA Wealth Management LLC Invests $243,000 in Raymond James (NYSE:RJF)

RBA Wealth Management LLC purchased a new stake in shares of Raymond James (NYSE:RJF) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,567 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares during the period. Ceredex Value Advisors LLC boosted its position in Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after acquiring an additional 474,443 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Raymond James during the 3rd quarter valued at $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Raymond James during the third quarter valued at approximately $28,985,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Trading Down 1.5 %

NYSE:RJF opened at $165.99 on Tuesday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The stock has a fifty day simple moving average of $162.33 and a 200 day simple moving average of $140.70.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. Sell-side analysts forecast that Raymond James will post 11.16 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RJF. Morgan Stanley upped their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. TD Cowen upped their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $166.09.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

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.