J.W. Cole Advisors Inc. Invests $511,000 in Raymond James (NYSE:RJF)

J.W. Cole Advisors Inc. bought a new stake in Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,289 shares of the financial services provider's stock, valued at approximately $511,000.

A number of other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Raymond James in the 3rd quarter valued at approximately $34,000. Y.D. More Investments Ltd raised its position in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after buying an additional 127 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Raymond James in the 3rd quarter worth about $37,000. Quarry LP boosted its stake in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 187 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Raymond James in the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Trading Down 2.7 %

Raymond James stock traded down $4.25 during midday trading on Friday, reaching $150.82. The stock had a trading volume of 839,594 shares, compared to its average volume of 1,328,620. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $30.90 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.93 and a beta of 1.03. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a fifty day moving average of $161.49 and a 200 day moving average of $144.74.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, analysts anticipate that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.33%. This is a boost from Raymond James's previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. Raymond James's payout ratio is 19.51%.

Analyst Ratings Changes

Several brokerages have weighed in on RJF. Bank of America increased their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. UBS Group raised Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. 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. Based on data from MarketBeat, Raymond James has an average rating of "Hold" and a consensus target price of $166.09.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction 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 the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares of the company's stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last three months. Corporate insiders own 0.54% of the company's stock.

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.