Bill Few Associates Inc. reduced its position in Raymond James (NYSE:RJF – Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,595 shares of the financial services provider’s stock after selling 500 shares during the quarter. Bill Few Associates Inc.’s holdings in Raymond James were worth $1,490,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its holdings in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Quarry LP bought a new stake in Raymond James during the second quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new position in Raymond James during the third quarter worth about $32,000. Gladius Capital Management LP bought a new position in Raymond James in the 3rd quarter worth about $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Raymond James in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on RJF. Bank of America boosted their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Citigroup lifted their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company reduced their target price on Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group lifted their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $156.09.
Raymond James Stock Up 0.5 %
NYSE RJF opened at $170.51 on Thursday. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The stock has a market capitalization of $34.84 billion, a PE ratio of 17.56, a PEG ratio of 1.03 and a beta of 1.02. 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 business’s 50-day moving average is $161.20 and its 200 day moving average is $137.59.
Raymond James (NYSE:RJF – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the firm earned $2.13 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. Sell-side analysts forecast that Raymond James will post 11.02 earnings per share for the current year.
Raymond James Increases Dividend
The business 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 was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.17%. Raymond James’s dividend payout ratio is 20.60%.
Insider Transactions at Raymond James
In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’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 sale, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,621 shares of company stock valued at $10,729,488. Company 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.
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