CVA Family Office LLC Invests $50,000 in Raymond James (NYSE:RJF)

CVA Family Office LLC acquired a new position in Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 452 shares of the financial services provider’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in shares of Raymond James in the third quarter worth $30,000. Covestor Ltd grew its stake in Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 138 shares in the last quarter. Clear Street Markets LLC grew its stake in Raymond James by 95.9% during the first quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 187 shares in the last quarter. Addison Advisors LLC grew its stake in Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 103 shares in the last quarter. Finally, Resources Management Corp CT ADV grew its stake in Raymond James by 661.3% during the second quarter. Resources Management Corp CT ADV now owns 472 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 410 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Trading Up 1.6 %

Shares of RJF opened at $127.39 on Thursday. Raymond James has a 1-year low of $82.00 and a 1-year high of $127.44. The company has a 50-day moving average of $117.64 and a 200 day moving average of $108.99. The firm has a market capitalization of $26.63 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the business posted $2.29 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Raymond James will post 9.2 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, March 28th. Raymond James’s payout ratio is currently 22.56%.

Insiders Place Their Bets

In related news, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Raymond James news, Director Art A. Garcia acquired 879 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RJF. Morgan Stanley raised their target price on shares of Raymond James from $106.00 to $113.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. TD Cowen lifted their price objective on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Jefferies Financial Group restated a “hold” rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average target price of $120.50.

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.