Nuance Investments LLC Makes New $13.06 Million Investment in Raymond James (NYSE:RJF)

Nuance Investments LLC purchased a new stake in shares of Raymond James (NYSE:RJF - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 117,158 shares of the financial services provider's stock, valued at approximately $13,063,000. Nuance Investments LLC owned about 0.06% of Raymond James as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James during the fourth quarter valued at $30,000. Addison Advisors LLC boosted its holdings 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 acquiring an additional 103 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Raymond James in the fourth quarter worth approximately $50,000. Headlands Technologies LLC raised its holdings in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 302 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Raymond James by 52.5% during the fourth 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 period. Institutional investors own 83.83% of the company's stock.

Raymond James Price Performance

RJF traded up $0.54 on Friday, hitting $125.70. 781,931 shares of the company's stock traded hands, compared to its average volume of 1,200,794. Raymond James has a one year low of $84.06 and a one year high of $131.19. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The firm has a market cap of $26.06 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 0.85 and a beta of 1.03. The company's 50 day simple moving average is $124.21 and its 200-day simple moving average is $114.41.

Raymond James (NYSE:RJF - Get Free Report) last released 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%. Raymond James's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $2.03 EPS. As a group, research analysts anticipate that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, March 28th. Raymond James's payout ratio is presently 21.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RJF shares. Citigroup boosted their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Morgan Stanley raised their target price on Raymond James from $113.00 to $123.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Raymond James from $132.00 to $131.00 and set a "market perform" rating on the stock in a research note on Thursday, April 25th. Bank of America cut their target price on shares of Raymond James from $145.00 to $141.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $126.22.

Insider Buying and Selling at Raymond James

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

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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