Raymond James (NYSE:RJF) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Raymond James (NYSE:RJF - Free Report) by 12.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,544,610 shares of the financial services provider's stock after purchasing an additional 488,245 shares during the period. JPMorgan Chase & Co. owned approximately 2.23% of Raymond James worth $556,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wolff Wiese Magana LLC boosted its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after buying an additional 198 shares in the last quarter. Quarry LP acquired a new stake in shares of Raymond James during the 2nd quarter valued at approximately $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the 3rd quarter worth approximately $32,000. Gladius Capital Management LP purchased a new stake in shares of Raymond James during the 3rd quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James in the 3rd quarter worth approximately $37,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 over the last quarter. Company insiders own 9.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. JMP Securities lifted their price target on Raymond James from $146.00 to $150.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $143.00 to $170.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Wells Fargo & Company restated an "equal weight" rating and set a $169.00 target price (up previously from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. Finally, Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Raymond James has a consensus rating of "Hold" and a consensus price target of $146.00.

Raymond James Trading Down 1.1 %

Shares of RJF stock traded down $1.79 during mid-day trading on Friday, hitting $156.92. 564,983 shares of the company's stock were exchanged, compared to its average volume of 1,145,178. The stock has a market cap of $32.02 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.91 and a beta of 1.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38. The stock has a 50-day simple moving average of $157.47 and a two-hundred day simple moving average of $132.57.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $2.13 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts expect that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a dividend of $0.50 per share. This is a positive change from Raymond James's previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.27%. Raymond James's dividend payout ratio is 20.60%.

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.