Wedmont Private Capital Acquires 8,442 Shares of Raymond James (NYSE:RJF)

Wedmont Private Capital grew its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 450.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,318 shares of the financial services provider's stock after acquiring an additional 8,442 shares during the period. Wedmont Private Capital's holdings in Raymond James were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RJF. Vest Financial LLC bought a new position in Raymond James in the 1st quarter worth $29,112,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James in the 1st quarter worth $25,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Raymond James by 3.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 30,592 shares of the financial services provider's stock worth $4,250,000 after buying an additional 1,098 shares during the period. Czech National Bank boosted its holdings in Raymond James by 6.8% in the 1st quarter. Czech National Bank now owns 42,358 shares of the financial services provider's stock worth $5,884,000 after buying an additional 2,686 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Raymond James by 11.6% in the 1st quarter. Rhumbline Advisers now owns 370,810 shares of the financial services provider's stock worth $51,509,000 after buying an additional 38,442 shares during the period. Institutional investors own 83.83% of the company's stock.

Raymond James Stock Up 2.4%

Shares of NYSE RJF opened at $146.83 on Monday. The firm's 50-day moving average price is $140.76 and its 200-day moving average price is $151.36. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $29.62 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.90 and a beta of 1.03. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last announced 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 business had revenue of $3.40 billion for the quarter, compared to analysts' expectations 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 earnings per share. On average, equities research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Tuesday, July 1st. Raymond James's dividend payout ratio is 19.25%.

Insider Activity

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Citigroup dropped their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Bank of America downgraded shares of 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. Wells Fargo & Company dropped their price objective on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Wall Street Zen downgraded Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Raymond James presently has a consensus 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.

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