FourThought Financial LLC Increases Stock Holdings in Raymond James (NYSE:RJF)

FourThought Financial LLC increased its holdings in Raymond James (NYSE:RJF – Get Rating) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,054 shares of the financial services provider’s stock after purchasing an additional 188 shares during the period. FourThought Financial LLC’s holdings in Raymond James were worth $104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lord Abbett & CO. LLC purchased a new stake in shares of Raymond James in the third quarter valued at $2,629,000. Janney Montgomery Scott LLC grew its position in shares of Raymond James by 2.2% in the third quarter. Janney Montgomery Scott LLC now owns 32,452 shares of the financial services provider’s stock valued at $3,207,000 after purchasing an additional 697 shares during the period. Ronald Blue Trust Inc. grew its position in shares of Raymond James by 23.5% in the third quarter. Ronald Blue Trust Inc. now owns 1,750 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 333 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Raymond James by 1.1% in the third quarter. Treasurer of the State of North Carolina now owns 103,340 shares of the financial services provider’s stock valued at $10,212,000 after purchasing an additional 1,158 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Raymond James by 41.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,458 shares of the financial services provider’s stock valued at $1,740,000 after acquiring an additional 5,669 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Raymond James Trading Down 1.6 %

Shares of RJF opened at $88.02 on Friday. The stock’s 50-day moving average is $108.88 and its two-hundred day moving average is $109.71. The stock has a market cap of $18.96 billion, a PE ratio of 12.26 and a beta of 1.05. Raymond James has a 12 month low of $84.86 and a 12 month high of $126.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.96.

Raymond James (NYSE:RJF – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Raymond James had a return on equity of 17.78% and a net margin of 13.65%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. Equities analysts forecast that Raymond James will post 9.44 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, March 31st. Raymond James’s dividend payout ratio (DPR) is 23.40%.

Insider Buying and Selling

In related news, insider Jodi Perry sold 6,343 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $112.30, for a total value of $712,318.90. Following the transaction, the insider now owns 7,150 shares in the company, valued at $802,945. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on RJF. The Goldman Sachs Group lowered their price target on Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, January 4th. StockNews.com began coverage on Raymond James in a research report on Thursday. They set a “hold” rating for the company. UBS Group lowered their price target on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. Keefe, Bruyette & Woods boosted their price target on Raymond James from $120.00 to $126.00 and gave the company a “market perform” rating in a research report on Thursday, January 12th. Finally, Credit Suisse Group lowered their price target on Raymond James from $119.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target of $122.86.

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.