Wealth Enhancement Advisory Services LLC Has $6.62 Million Holdings in Raymond James (NYSE:RJF)

Wealth Enhancement Advisory Services LLC lifted its holdings in Raymond James (NYSE:RJF - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,628 shares of the financial services provider's stock after buying an additional 4,269 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Raymond James were worth $6,621,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RJF. JPMorgan Chase & Co. lifted its position 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 valued at $556,533,000 after purchasing an additional 488,245 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Raymond James in the 4th quarter valued at about $211,000. Swedbank AB lifted its position in Raymond James by 136.1% in the 4th quarter. Swedbank AB now owns 11,576 shares of the financial services provider's stock valued at $1,798,000 after purchasing an additional 6,672 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Raymond James in the 4th quarter valued at about $2,016,000. Finally, Caprock Group LLC lifted its position in Raymond James by 3.1% in the 4th quarter. Caprock Group LLC now owns 6,207 shares of the financial services provider's stock valued at $964,000 after purchasing an additional 184 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on RJF. Wall Street Zen downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Cowen reaffirmed a "hold" rating on shares of Raymond James in a research note on Thursday, April 24th. Bank of America lowered shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. The Goldman Sachs Group reduced their price target 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. Finally, Wells Fargo & Company reduced their price target on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $153.82.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction 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 directly owns 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the sale, the insider now directly owns 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Raymond James Trading Down 0.4%

Shares of RJF stock traded down $0.58 during trading hours on Wednesday, reaching $145.51. 830,121 shares of the stock traded hands, compared to its average volume of 1,311,763. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The business has a fifty day moving average price of $140.36 and a 200 day moving average price of $151.81. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $29.36 billion, a PE ratio of 14.20, a PEG ratio of 0.90 and a beta of 1.03.

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

Raymond James Announces Dividend

The firm also recently announced 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 is 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.