Access Investment Management LLC Invests $3.18 Million in Raymond James (NYSE:RJF)

Access Investment Management LLC purchased a new stake in Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,501 shares of the financial services provider's stock, valued at approximately $3,178,000. Raymond James makes up about 1.2% of Access Investment Management LLC's portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James in the fourth quarter valued at approximately $30,000. Addison Advisors LLC increased its position in shares of Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 103 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Raymond James during the 4th quarter valued at about $50,000. Headlands Technologies LLC lifted its holdings in shares of Raymond James by 139.8% in the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider's stock worth $52,000 after acquiring an additional 302 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Raymond James by 52.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Trading Up 0.4 %

RJF stock traded up $0.54 on Friday, reaching $125.70. The company's stock had a trading volume of 781,931 shares, compared to its average volume of 1,200,794. The firm has a market cap of $26.05 billion, a PE ratio of 15.20, a PEG ratio of 0.85 and a beta of 1.03. The business has a fifty day simple moving average of $124.21 and a two-hundred day simple moving average of $114.41. Raymond James has a 12-month low of $84.06 and a 12-month high of $131.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.97 and a current ratio of 1.01.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 earnings per share. As a group, research analysts forecast that Raymond James will post 9.56 EPS for the current 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.43%. Raymond James's payout ratio is 21.77%.

Insiders Place Their Bets

In other news, insider James E. Bunn sold 11,095 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares of the company's stock, valued at approximately $5,845,817.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Steven M. Raney sold 4,174 shares of the business's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares of the company's stock, valued at $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the company's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. Company insiders own 9.74% of the company's stock.

Wall Street Analyst Weigh In

RJF has been the subject of several recent research reports. Citigroup boosted their price target on shares of Raymond James from $112.00 to $132.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. TD Cowen decreased their price target on Raymond James from $131.00 to $126.00 and set a "hold" rating on the stock in a research note on Thursday, April 25th. StockNews.com downgraded Raymond James from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Bank of America cut their target price on shares of Raymond James from $145.00 to $141.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Finally, UBS Group decreased their target price on shares of Raymond James from $116.00 to $115.00 and set a "neutral" rating on the stock in a research note on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $126.22.

About Raymond James

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.