Park Avenue Securities LLC lifted its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 33.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,579 shares of the financial services provider's stock after purchasing an additional 3,414 shares during the quarter. Park Avenue Securities LLC's holdings in Raymond James were worth $2,109,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider's stock worth $73,940,000 after buying an additional 9,217 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider's stock valued at $57,941,000 after acquiring an additional 7,028 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Raymond James in the third quarter valued at $3,561,000. XTX Topco Ltd grew its stake in Raymond James by 390.7% during the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider's stock worth $1,032,000 after purchasing an additional 6,649 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Raymond James by 109.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider's stock worth $13,778,000 after purchasing an additional 58,200 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.
Raymond James Price Performance
Shares of RJF traded up $2.10 during mid-day trading on Friday, reaching $167.00. 1,389,160 shares of the company's stock were exchanged, compared to its average volume of 968,784. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a 50-day simple moving average of $160.77 and a two-hundred day simple moving average of $136.46. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.89 and a beta of 1.02.
Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $2.13 EPS. On average, sell-side analysts predict that Raymond James will post 10.99 EPS for the current fiscal year.
Raymond James Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Raymond James's previous quarterly dividend of $0.45. Raymond James's dividend payout ratio is currently 20.60%.
Insider Transactions at Raymond James
In other news, CEO Paul C. Reilly sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last three months. Company insiders own 0.54% of the company's stock.
Analyst Ratings Changes
RJF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $143.00 to $170.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Bank of America raised their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Wells Fargo & Company dropped their price objective on Raymond James from $169.00 to $168.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, Citigroup raised their price objective on Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $156.09.
Get Our Latest Stock Analysis on RJF
Raymond James Company Profile
(
Free Report)
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.
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