Wipfli Financial Advisors LLC Purchases New Stake in Raymond James (NYSE:RJF)

Wipfli Financial Advisors LLC purchased a new stake in shares of Raymond James (NYSE:RJFGet Rating) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,810 shares of the financial services provider’s stock, valued at approximately $179,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock worth $618,780,000 after purchasing an additional 2,510,966 shares during the period. Primecap Management Co. CA boosted its position in Raymond James by 16.8% during the second quarter. Primecap Management Co. CA now owns 13,589,617 shares of the financial services provider’s stock worth $1,215,048,000 after purchasing an additional 1,951,233 shares during the period. Vanguard Group Inc. boosted its position in Raymond James by 1.9% during the first quarter. Vanguard Group Inc. now owns 21,689,564 shares of the financial services provider’s stock worth $2,383,900,000 after purchasing an additional 410,025 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Raymond James by 14.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,762,467 shares of the financial services provider’s stock worth $246,992,000 after purchasing an additional 349,521 shares during the period. Finally, Amundi boosted its position in Raymond James by 177.1% during the second quarter. Amundi now owns 451,796 shares of the financial services provider’s stock worth $39,441,000 after purchasing an additional 288,769 shares during the period. Institutional investors own 74.77% of the company’s stock.

Raymond James Trading Up 2.7 %

Shares of RJF opened at $110.18 on Friday. The firm’s 50 day simple moving average is $114.59 and its 200 day simple moving average is $105.88. The company has a market capitalization of $23.70 billion, a P/E ratio of 15.79 and a beta of 1.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.96. Raymond James has a 1-year low of $84.86 and a 1-year high of $126.00.

Raymond James (NYSE:RJFGet Rating) last announced its earnings results on Wednesday, October 26th. The financial services provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.75 billion. Raymond James had a net margin of 13.35% and a return on equity of 17.68%. Raymond James’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $2.06 earnings per share. Sell-side analysts forecast that Raymond James will post 9.4 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 30th. This is an increase from Raymond James’s previous quarterly dividend of $0.34. This represents a $1.68 annualized dividend and a dividend yield of 1.52%. Raymond James’s dividend payout ratio (DPR) is 24.07%.

Insiders Place Their Bets

In other Raymond James news, CEO Paul C. Reilly sold 24,016 shares of Raymond James stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $111.27, for a total transaction of $2,672,260.32. Following the transaction, the chief executive officer now directly owns 267,499 shares of the company’s stock, valued at $29,764,613.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Raymond James news, insider George Catanese sold 3,489 shares of Raymond James stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $114.02, for a total transaction of $397,815.78. Following the transaction, the insider now directly owns 11,862 shares of the company’s stock, valued at $1,352,505.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul C. Reilly sold 24,016 shares of Raymond James stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $111.27, for a total transaction of $2,672,260.32. Following the transaction, the chief executive officer now directly owns 267,499 shares in the company, valued at $29,764,613.73. The disclosure for this sale can be found here. Insiders own 10.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RJF. The Goldman Sachs Group cut their target price on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup began coverage on shares of Raymond James in a report on Tuesday, October 11th. They issued a “neutral” rating and a $117.00 price target on the stock. UBS Group began coverage on shares of Raymond James in a report on Tuesday, November 22nd. They issued a “neutral” rating and a $127.00 price target on the stock. Credit Suisse Group lowered their price target on shares of Raymond James to $118.00 in a report on Friday, November 4th. Finally, Morgan Stanley increased their price target on shares of Raymond James from $113.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 31st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $122.57.

Raymond James Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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