Turtle Creek Wealth Advisors LLC Invests $30,000 in Raymond James (NYSE:RJF)

Turtle Creek Wealth Advisors LLC bought a new position in Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 268 shares of the financial services provider’s stock, valued at approximately $30,000.

Several other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in Raymond James by 20.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 150,146 shares of the financial services provider’s stock worth $16,741,000 after purchasing an additional 25,768 shares during the last quarter. Confluence Wealth Services Inc. bought a new stake in Raymond James in the fourth quarter worth $240,000. International Assets Investment Management LLC increased its position in Raymond James by 4,941.7% in the fourth quarter. International Assets Investment Management LLC now owns 5,798 shares of the financial services provider’s stock worth $646,000 after purchasing an additional 5,683 shares during the last quarter. Bleakley Financial Group LLC increased its position in Raymond James by 9.2% in the fourth quarter. Bleakley Financial Group LLC now owns 2,560 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 216 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Raymond James by 0.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 88,007 shares of the financial services provider’s stock valued at $9,813,000 after acquiring an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James

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

Raymond James Stock Down 1.6 %

NYSE:RJF opened at $122.55 on Friday. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19. The company has a 50-day moving average of $121.33 and a 200 day moving average of $110.79. The firm has a market cap of $25.62 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. 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 released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 28th. Raymond James’s payout ratio is 22.56%.

Analysts Set New Price Targets

A number of research firms have weighed in on RJF. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup boosted their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday. The Goldman Sachs Group reiterated a “neutral” rating and set a $116.00 price objective (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Morgan Stanley upped their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $117.00 price target (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.88.

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.