Waverly Advisors LLC Buys Shares of 15,686 Raymond James (NYSE:RJF)

Waverly Advisors LLC acquired a new stake in Raymond James (NYSE:RJF - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 15,686 shares of the financial services provider's stock, valued at approximately $2,437,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Woodline Partners LP purchased a new position in Raymond James in the 4th quarter valued at $1,707,000. Sovereign s Capital Management LLC purchased a new position in Raymond James in the 4th quarter valued at $3,328,000. Tidal Investments LLC grew its position in Raymond James by 21.1% in the 4th quarter. Tidal Investments LLC now owns 5,134 shares of the financial services provider's stock valued at $795,000 after buying an additional 893 shares during the last quarter. Teza Capital Management LLC grew its position in Raymond James by 114.8% in the 4th quarter. Teza Capital Management LLC now owns 17,206 shares of the financial services provider's stock valued at $2,673,000 after buying an additional 9,197 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in Raymond James by 3.2% in the 4th quarter. Toronto Dominion Bank now owns 68,697 shares of the financial services provider's stock valued at $10,670,000 after buying an additional 2,158 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RJF has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Wall Street Zen downgraded Raymond James from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Cowen reissued a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Bank of America downgraded Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Finally, Morgan Stanley raised their target price on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Eleven 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's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $153.82.

Insider Transactions at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction dated Monday, April 28th. The stock was 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 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Raymond James Price Performance

Shares of NYSE:RJF traded down $0.95 during midday trading on Friday, hitting $145.52. 639,571 shares of the stock were exchanged, compared to its average volume of 1,306,564. The stock 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 current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a 50 day moving average price of $139.99 and a 200-day moving average price of $152.48.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $2.31 EPS. On average, research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

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

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.