5,391 Shares in Raymond James (NYSE:RJF) Acquired by Friedenthal Financial

Friedenthal Financial purchased a new position in shares of Raymond James (NYSE:RJF) in the 4th quarter, Holdings Channel reports. The firm purchased 5,391 shares of the financial services provider’s stock, valued at approximately $837,000.

A number of other large investors also recently bought and sold shares of the stock. Coldstream Capital Management Inc. lifted its position in Raymond James by 1.5% during the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after buying an additional 64 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Raymond James by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 82 shares in the last quarter. Wedmont Private Capital boosted its position in Raymond James by 5.1% during 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 period. Portside Wealth Group LLC increased its holdings in Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 93 shares in the last quarter. Finally, MML Investors Services LLC raised its position in Raymond James by 0.4% in the third quarter. MML Investors Services LLC now owns 22,467 shares of the financial services provider’s stock valued at $2,751,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RJF. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $166.00 target price (up previously from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their target price 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. Citigroup lifted their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Bank of America upped their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.18.

Insiders Place Their Bets

In other news, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % 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 valued at $10,729,488 over the last three months. Company insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Shares of NYSE RJF traded up $0.02 during trading on Monday, reaching $154.23. The stock had a trading volume of 1,020,580 shares, compared to its average volume of 952,549. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a market cap of $31.47 billion, a PE ratio of 15.88, a P/E/G ratio of 0.91 and a beta of 1.02. Raymond James has a one year low of $104.24 and a one year high of $171.38. The firm’s 50 day moving average price is $160.03 and its two-hundred day moving average price is $135.31.

Raymond James (NYSE:RJF) last posted 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 net margin of 13.86% and a return on equity of 19.30%. 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 firm posted $2.13 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts forecast that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business 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 dividend of $0.50 per share. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

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.