Raymond James Financial Inc. Acquires New Stake in Raymond James (NYSE:RJF)

Raymond James Financial Inc. acquired a new stake in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 680,492 shares of the financial services provider’s stock, valued at approximately $105,701,000. Raymond James Financial Inc. owned about 0.33% of Raymond James as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new stake in Raymond James in the third quarter worth about $2,574,000. Principal Financial Group Inc. lifted its stake in shares of Raymond James by 7.5% during the 3rd quarter. Principal Financial Group Inc. now owns 626,866 shares of the financial services provider’s stock valued at $76,770,000 after buying an additional 43,601 shares in the last quarter. Portside Wealth Group LLC lifted its stake in shares of Raymond James by 3.9% during the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after buying an additional 93 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Raymond James during the 3rd quarter valued at $9,193,000. Finally, Atria Investments Inc lifted its stake in shares of Raymond James by 3.5% during the 3rd quarter. Atria Investments Inc now owns 31,482 shares of the financial services provider’s stock valued at $3,855,000 after buying an additional 1,057 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 0.3 %

Shares of NYSE RJF opened at $143.35 on Friday. The firm’s 50-day moving average price is $159.80 and its 200-day moving average price is $147.84. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $29.37 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, equities research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.40%. Raymond James’s payout ratio is 19.51%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RJF shares. Wells Fargo & Company lifted their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lifted 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. Bank of America lifted their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” 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. Finally, StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.55.

Insider Activity at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

About Raymond James

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.