Geode Capital Management LLC Increases Stock Holdings in Raymond James (NYSE:RJF)

Geode Capital Management LLC raised its stake in shares of Raymond James (NYSE:RJF - Free Report) by 0.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,351,684 shares of the financial services provider's stock after acquiring an additional 12,869 shares during the period. Geode Capital Management LLC owned approximately 2.11% of Raymond James worth $531,013,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its position in shares of Raymond James by 15.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,496 shares of the financial services provider's stock valued at $309,000 after purchasing an additional 343 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Raymond James by 105.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider's stock worth $3,834,000 after buying an additional 15,940 shares in the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of Raymond James by 2.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 3,972 shares of the financial services provider's stock valued at $491,000 after buying an additional 112 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Raymond James by 2.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,689 shares of the financial services provider's stock valued at $3,299,000 after acquiring an additional 514 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Raymond James by 5.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,848 shares of the financial services provider's stock worth $599,000 after acquiring an additional 256 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares of the company's stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,621 shares of company stock worth $9,134,788 in the last three months. Corporate insiders own 9.74% of the company's stock.

Analysts Set New Price Targets

RJF has been the topic of a number of analyst reports. JMP Securities lifted their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a "market outperform" rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $169.00 target price (up from $152.00) on shares of Raymond James in a report on Thursday. Finally, Bank of America raised their price target on Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Raymond James currently has an average rating of "Hold" and an average target price of $142.45.

Raymond James Trading Up 0.1 %

Shares of NYSE:RJF traded up $0.12 during trading on Friday, reaching $160.49. 1,593,127 shares of the company were exchanged, compared to its average volume of 1,139,865. 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 firm has a market capitalization of $32.75 billion, a PE ratio of 16.53, a P/E/G ratio of 0.94 and a beta of 1.00. The business's fifty day simple moving average is $152.45 and its 200-day simple moving average is $130.02. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the business posted $2.13 EPS. Raymond James's quarterly revenue was up 13.4% on a year-over-year basis. On average, research analysts anticipate that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. 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.