Everence Capital Management Inc. Makes New Investment in Raymond James (NYSE:RJF)

Everence Capital Management Inc. bought a new position in shares of Raymond James (NYSE:RJF) during the 4th quarter, Holdings Channel reports. The fund bought 3,370 shares of the financial services provider’s stock, valued at approximately $376,000.

Several other institutional investors also recently made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James during the 4th quarter worth $30,000. Advisors Asset Management Inc. acquired a new position in shares of Raymond James during the 3rd quarter worth $30,000. Covestor Ltd raised its stake in shares of Raymond James by 77.1% during the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after buying an additional 138 shares during the last quarter. Clear Street Markets LLC raised its stake in shares of Raymond James by 95.9% during the 1st quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock worth $36,000 after buying an additional 187 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in shares of Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on RJF. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Morgan Stanley boosted their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Jefferies Financial Group reissued a “hold” rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Finally, TD Cowen boosted their target price on shares of Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.88.

Insider Transactions at Raymond James

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was 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 owns 21,491 shares in the company, valued at approximately $2,405,057.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was 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 owns 21,491 shares in the company, valued at approximately $2,405,057.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares in the company, valued at $98,711.70. The disclosure for this purchase can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James Trading Up 0.0 %

Shares of RJF stock opened at $121.96 on Friday. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19. The firm has a 50-day moving average price of $122.16 and a 200 day moving average price of $111.40. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.86 and a beta of 1.05.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating 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 the consensus estimate of $3.01 billion. During the same quarter in the prior year, the company posted $2.29 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts forecast that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is currently 22.56%.

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.