Advisory Services Network LLC Takes Position in Raymond James (NYSE:RJF)

Advisory Services Network LLC purchased a new stake in Raymond James (NYSE:RJFFree Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,582 shares of the financial services provider’s stock, valued at approximately $176,000.

Several other hedge funds have also made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Raymond James in the 4th quarter valued at approximately $30,000. CVA Family Office LLC purchased a new stake in shares of Raymond James in the 4th quarter valued at approximately $50,000. Headlands Technologies LLC boosted its position in shares of Raymond James by 139.8% during the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 302 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of Raymond James by 52.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares during the period. Finally, Addison Advisors LLC boosted its position in shares of Raymond James by 32.7% during the 4th quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of RJF opened at $120.23 on Friday. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The firm’s fifty day simple moving average is $124.67 and its 200-day simple moving average is $117.55. The firm has a market capitalization of $24.92 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.81 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJFGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business posted $2.03 earnings per share. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts forecast that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.45 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.50%. Raymond James’s payout ratio is 21.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RJF. Bank of America lowered their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Morgan Stanley increased their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target of $126.22.

View Our Latest Research Report on RJF

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

About Raymond James

(Free Report)

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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