UMB Bank n.a. Buys 44,735 Shares of Raymond James (NYSE:RJF)

UMB Bank n.a. grew its stake in Raymond James (NYSE:RJF - Free Report) by 7,238.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,353 shares of the financial services provider's stock after buying an additional 44,735 shares during the period. UMB Bank n.a.'s holdings in Raymond James were worth $7,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Raymond James by 2.2% in the 2nd quarter. American Century Companies Inc. now owns 119,003 shares of the financial services provider's stock worth $14,710,000 after acquiring an additional 2,531 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Raymond James by 9.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,111 shares of the financial services provider's stock valued at $385,000 after buying an additional 260 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Raymond James by 47.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 4,807 shares of the financial services provider's stock worth $594,000 after buying an additional 1,557 shares in the last quarter. XTX Topco Ltd grew its position in shares of 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 buying an additional 6,649 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Raymond James by 12.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 127,120 shares of the financial services provider's stock valued at $15,713,000 after acquiring an additional 14,166 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares of the company's stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares of the company's stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 over the last ninety days. Insiders own 0.54% of the company's stock.

Raymond James Price Performance

NYSE:RJF traded up $2.10 during trading hours on Monday, hitting $167.00. 1,389,160 shares of the company's stock traded hands, 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 firm has a market cap of $34.13 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.89 and a beta of 1.02. The business's fifty day simple moving average is $160.77 and its two-hundred day simple moving average is $136.67.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. During the same quarter in the previous year, the company earned $2.13 EPS. The business's quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts anticipate that Raymond James will post 10.99 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.20%. This is a positive change from Raymond James's previous quarterly dividend of $0.45. Raymond James's dividend payout ratio is currently 20.60%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RJF. UBS Group raised shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $166.00 target price (up from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price objective on Raymond James from $143.00 to $170.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Finally, Citigroup upped their target price on Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $156.09.

About Raymond James

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.