Stephens Consulting LLC raised its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 188.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,624 shares of the financial services provider's stock after acquiring an additional 26,556 shares during the quarter. Raymond James comprises approximately 1.5% of Stephens Consulting LLC's portfolio, making the stock its 13th biggest holding. Stephens Consulting LLC's holdings in Raymond James were worth $4,530,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of RJF. Steph & Co. raised its stake in shares of Raymond James by 9.3% during the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider's stock worth $119,000 after acquiring an additional 91 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Raymond James by 12.4% during the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider's stock worth $97,000 after acquiring an additional 96 shares in the last quarter. Addison Advisors LLC raised 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 acquiring an additional 103 shares in the last quarter. SVB Wealth LLC raised its stake in shares of Raymond James by 5.6% during the third quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider's stock worth $206,000 after acquiring an additional 108 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its stake in shares of Raymond James by 3.2% during the third quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider's stock worth $387,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 83.83% of the company's stock.
Raymond James Trading Up 1.5 %
NYSE:RJF traded up $1.88 during trading hours on Monday, hitting $125.48. The company had a trading volume of 800,978 shares, compared to its average volume of 1,049,588. The company has a market capitalization of $26.23 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.87 and a beta of 1.05. The stock has a 50-day moving average price of $122.50 and a 200 day moving average price of $111.97. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. 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 announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 EPS 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 analyst estimates 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 for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. On average, equities research analysts predict that Raymond James will post 9.36 EPS for the current fiscal year.
Raymond James Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James's dividend payout ratio is currently 22.56%.
Wall Street Analysts Forecast Growth
RJF has been the topic of several recent analyst reports. Jefferies Financial Group restated a "hold" rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. JMP Securities restated a "market perform" rating on shares of Raymond James in a report on Tuesday, April 9th. JPMorgan Chase & Co. upgraded shares of Raymond James from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. StockNews.com cut shares of Raymond James from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Finally, Citigroup raised their target price on shares of Raymond James from $112.00 to $132.00 and gave the stock a "neutral" rating in a report on Thursday, April 11th. Eight investment 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, Raymond James presently has a consensus rating of "Hold" and an average target price of $123.88.
Read Our Latest Analysis on Raymond James
Insider Buying and Selling at Raymond James
In related news, Director Art A. Garcia purchased 879 shares of the stock in a transaction dated Friday, February 9th. The stock was purchased 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 in the company, valued at $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares of the company's stock, valued at approximately $2,405,057.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Art A. Garcia purchased 879 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now owns 879 shares in the company, valued at $98,711.70. The disclosure for this purchase can be found here. Insiders own 9.74% of the company's stock.
Raymond James Company Profile
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Free Report)
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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