Joel Adams & Associates Inc. Makes New $378,000 Investment in Raymond James (NYSE:RJF)

Joel Adams & Associates Inc. bought a new stake in Raymond James (NYSE:RJF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,431 shares of the financial services provider's stock, valued at approximately $378,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider's stock worth $1,483,542,000 after buying an additional 2,898,242 shares during the period. State Street Corp boosted its position in shares of Raymond James by 0.7% during the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider's stock worth $976,587,000 after buying an additional 54,265 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Raymond James by 12.0% during the third 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. Geode Capital Management LLC boosted its position in shares of Raymond James by 0.3% during the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider's stock worth $531,013,000 after buying an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Raymond James by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider's stock worth $130,340,000 after buying an additional 7,121 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm'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 completion of the sale, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now owns 80,421 shares of the company's stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,621 shares of company stock worth $10,729,488. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

RJF has been the topic of several analyst reports. Citigroup upped their target price on Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. The Goldman Sachs Group upgraded Raymond James from a "neutral" rating to a "buy" rating and upped their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. UBS Group upgraded Raymond James from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. StockNews.com downgraded Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $166.09.

Raymond James Stock Performance

Shares of RJF stock traded down $3.73 during trading on Friday, hitting $151.34. The company's stock had a trading volume of 1,668,672 shares, compared to its average volume of 1,355,329. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. 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 business has a fifty day moving average of $161.30 and a 200-day moving average of $145.05. The company has a market cap of $31.01 billion, a PE ratio of 14.77, a P/E/G ratio of 0.93 and a beta of 1.03.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, research analysts anticipate that Raymond James will post 11.12 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Raymond James's dividend payout ratio (DPR) is presently 19.51%.

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.