DAVENPORT & Co LLC Has $9.05 Million Position in Raymond James (NYSE:RJF)

DAVENPORT & Co LLC boosted its position in Raymond James (NYSE:RJF) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,278 shares of the financial services provider’s stock after buying an additional 4,816 shares during the quarter. DAVENPORT & Co LLC’s holdings in Raymond James were worth $9,052,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of RJF. Coldstream Capital Management Inc. raised its holdings in shares of Raymond James by 1.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 64 shares during the last quarter. CX Institutional increased its stake in Raymond James by 2.9% in the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after buying an additional 66 shares during the last quarter. Stablepoint Partners LLC increased its stake in Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after buying an additional 73 shares during the last quarter. Metis Global Partners LLC boosted its stake 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 worth $749,000 after buying an additional 82 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of 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 buying an additional 86 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday. Bank of America increased their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com upgraded shares of Raymond James from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Raymond James has a consensus rating of “Hold” and an average target price of $166.09.

Raymond James Price Performance

Raymond James stock opened at $168.41 on Monday. The company has a market capitalization of $34.42 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.05 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The stock’s 50 day moving average is $162.36 and its 200-day moving average is $140.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Equities research analysts expect that Raymond James will post 11.02 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 19.51%.

Insiders Place Their Bets

In other news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction 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 directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % 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 quarter. Corporate insiders own 0.54% of the company’s stock.

Raymond James 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.