Cerity Partners LLC Buys Shares of 12,134 Raymond James (NYSE:RJF)

Cerity Partners LLC purchased a new position in shares of Raymond James (NYSE:RJF - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,134 shares of the financial services provider's stock, valued at approximately $1,354,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Raymond James during the fourth quarter worth approximately $30,000. Advisors Asset Management Inc. purchased a new stake in shares of Raymond James during the third quarter worth approximately $30,000. Covestor Ltd increased its stake in shares of Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider's stock worth $35,000 after buying an additional 138 shares during the period. Clear Street Markets LLC increased its stake in shares of Raymond James by 95.9% during the first quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider's stock worth $36,000 after buying an additional 187 shares during the period. Finally, Addison Advisors LLC increased its stake in shares of Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider's stock worth $42,000 after buying an additional 103 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on RJF. Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $116.00 price target (down from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. StockNews.com downgraded Raymond James from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Citigroup upped their price target on Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $117.00 price target (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $123.88.

Raymond James Stock Performance

Shares of RJF stock traded up $1.64 during trading hours on Friday, hitting $123.60. The stock had a trading volume of 3,039,857 shares, compared to its average volume of 924,886. The firm has a market capitalization of $25.84 billion, a PE ratio of 15.49, a PEG ratio of 0.87 and a beta of 1.05. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19. The stock's 50 day moving average is $122.34 and its 200 day moving average is $111.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.15. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The company's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 earnings per share. As a group, research analysts forecast that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James's payout ratio is currently 22.56%.

Insider Buying and Selling

In related news, Director Art A. Garcia purchased 879 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares of the company's stock, valued at $2,405,057.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Art A. Garcia acquired 879 shares of the business's stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares of the company's stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company's stock.

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.