21,426 Shares in Raymond James (NYSE:RJF) Bought by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC acquired a new position in Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 21,426 shares of the financial services provider's stock, valued at approximately $3,328,000. Raymond James makes up about 2.1% of Sovereign s Capital Management LLC's holdings, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC lifted its holdings in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd lifted its holdings in Raymond James by 56.7% in the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in Raymond James in the 4th quarter valued at about $53,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the firm's 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 sale, the insider now owns 78,227 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Raymond James Trading Down 1.4%

RJF traded down $2.06 on Thursday, reaching $146.40. 1,170,035 shares of the company's stock were exchanged, compared to its average volume of 1,305,048. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company's 50 day moving average is $139.91 and its 200-day moving average is $152.54. The company has a market cap of $29.54 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.90 and a beta of 1.02.

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

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James's dividend payout ratio (DPR) is 19.25%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a report on Thursday, January 30th. Bank of America lowered shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a report on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and issued a $175.00 target price on shares of Raymond James in a report on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $153.82.

Raymond James Company 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.