1,576 Shares in Raymond James (NYSE:RJF) Bought by Longboard Asset Management LP

Longboard Asset Management LP acquired a new position in shares of Raymond James (NYSE:RJF - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,576 shares of the financial services provider's stock, valued at approximately $245,000. Raymond James makes up 0.6% of Longboard Asset Management LP's holdings, making the stock its 26th largest position.

A number of other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. increased its position in Raymond James by 1.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider's stock valued at $528,000 after acquiring an additional 64 shares in the last quarter. CX Institutional grew its stake in shares of Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider's stock valued at $361,000 after purchasing an additional 66 shares during the last quarter. Stablepoint Partners LLC grew its stake in shares of Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider's stock valued at $2,276,000 after purchasing an additional 73 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of Raymond James by 1.4% in the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider's stock valued at $749,000 after purchasing an additional 82 shares in the last quarter. Finally, Wedmont Private Capital raised its position in Raymond James by 5.1% in the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider's stock worth $222,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several research reports. UBS Group raised Raymond James from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $161.00 to $185.00 in a report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Finally, Bank of America boosted their price target on shares of Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $166.09.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the 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 transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction that occurred on 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 approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is owned by corporate insiders.

Raymond James Trading Down 0.6 %

RJF traded down $0.99 during mid-day trading on Friday, hitting $167.46. The stock had a trading volume of 725,333 shares, compared to its average volume of 1,272,545. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The firm has a market capitalization of $34.22 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The stock's fifty day simple moving average is $162.09 and its 200-day simple moving average is $141.86.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, research analysts forecast that Raymond James will post 11.16 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Raymond James's payout ratio is currently 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.