Focus Partners Wealth Grows Stock Position in Raymond James (NYSE:RJF)

Focus Partners Wealth increased its stake in shares of Raymond James (NYSE:RJF - Free Report) by 1,072.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,221 shares of the financial services provider's stock after acquiring an additional 23,070 shares during the quarter. Focus Partners Wealth's holdings in Raymond James were worth $3,918,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RJF. Assetmark Inc. raised its holdings in Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock valued at $70,000 after buying an additional 138 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Raymond James during the fourth quarter valued at approximately $105,701,000. J.W. Cole Advisors Inc. purchased a new position in Raymond James during the 4th quarter worth $511,000. Proficio Capital Partners LLC purchased a new position in shares of Raymond James during the fourth quarter valued at $21,334,000. Finally, UMB Bank n.a. raised its holdings in shares of Raymond James by 7,238.7% in the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider's stock valued at $7,045,000 after acquiring an additional 44,735 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

Raymond James Stock Performance

RJF stock traded down $0.54 during trading on Tuesday, hitting $153.27. 82,493 shares of the company traded hands, compared to its average volume of 1,457,181. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a market cap of $30.92 billion, a PE ratio of 14.96, a P/E/G ratio of 0.90 and a beta of 1.02. The stock's 50-day simple moving average is $139.53 and its 200 day simple moving average is $152.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

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

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.30%. Raymond James's dividend payout ratio (DPR) is currently 19.25%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America downgraded shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 target price on the stock. in a research report on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and set a $175.00 target price on shares of Raymond James in a report on Thursday, April 24th. Morgan Stanley lifted their price target on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price objective on Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, StockNews.com lowered 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.