Aptus Capital Advisors LLC Takes Position in Raymond James (NYSE:RJF)

Aptus Capital Advisors LLC bought a new stake in Raymond James (NYSE:RJF - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,771 shares of the financial services provider's stock, valued at approximately $430,000.

Several other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its stake in Raymond James by 2.2% in the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock valued at $1,013,066,000 after purchasing an additional 137,277 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock worth $556,533,000 after purchasing an additional 488,245 shares in the last quarter. Geode Capital Management LLC raised its position in Raymond James by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock valued at $680,378,000 after purchasing an additional 40,576 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Raymond James by 1.0% during the fourth quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock valued at $393,554,000 after purchasing an additional 24,195 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Raymond James by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock worth $378,276,000 after purchasing an additional 192,904 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Buying and Selling

In other news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider now directly owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Raymond James Stock Up 1.2%

Shares of RJF stock traded up $1.78 during midday trading on Tuesday, reaching $153.36. 176,757 shares of the stock were exchanged, compared to its average volume of 1,298,081. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm has a market cap of $31.42 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The company's 50 day moving average is $138.33 and its two-hundred day moving average is $152.38. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the company posted $2.31 EPS. Raymond James's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. Raymond James's dividend payout ratio (DPR) is currently 19.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Cowen reiterated a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price objective on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $153.82.

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.