Voloridge Investment Management LLC Buys 127,967 Shares of Raymond James (NYSE:RJF)

Voloridge Investment Management LLC lifted its position in Raymond James (NYSE:RJF - Free Report) by 58.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 348,149 shares of the financial services provider's stock after purchasing an additional 127,967 shares during the period. Voloridge Investment Management LLC owned about 0.17% of Raymond James worth $54,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RJF. Waverly Advisors LLC purchased a new position in Raymond James during the fourth quarter valued at $2,437,000. Woodline Partners LP purchased a new position in Raymond James during the fourth quarter valued at $1,707,000. Sovereign s Capital Management LLC purchased a new position in Raymond James during the fourth quarter valued at $3,328,000. Tidal Investments LLC grew its stake in Raymond James by 21.1% during the fourth quarter. Tidal Investments LLC now owns 5,134 shares of the financial services provider's stock valued at $795,000 after acquiring an additional 893 shares in the last quarter. Finally, Teza Capital Management LLC grew its stake in Raymond James by 114.8% during the fourth quarter. Teza Capital Management LLC now owns 17,206 shares of the financial services provider's stock valued at $2,673,000 after acquiring an additional 9,197 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RJF shares. JMP Securities reaffirmed a "market outperform" rating and set a $175.00 target price on shares of Raymond James in a research note on Thursday, April 24th. Citigroup cut their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group cut their target price on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Bank of America cut shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Eleven 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $153.82.

Raymond James Price Performance

Shares of NYSE:RJF traded down $0.95 on Friday, reaching $145.52. The company's stock had a trading volume of 639,571 shares, compared to its average volume of 1,304,062. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a market cap of $29.36 billion, a P/E ratio of 14.20, a PEG ratio of 0.90 and a beta of 1.02. The company has a 50-day simple moving average of $139.99 and a 200 day simple moving average of $152.54. 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 (NYSE:RJF - Get Free Report) last released its earnings results 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). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Raymond James's revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. As a group, equities research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

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

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.