Raymond James (NYSE:RJF) Position Increased by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,557 shares of the financial services provider's stock after buying an additional 1,717 shares during the quarter. Rafferty Asset Management LLC's holdings in Raymond James were worth $10,028,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. CX Institutional grew its stake in Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider's stock worth $361,000 after buying an additional 66 shares during the period. Crestwood Advisors Group LLC grew its stake in Raymond James by 3.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider's stock worth $308,000 after buying an additional 67 shares during the period. Stablepoint Partners LLC grew its stake in Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider's stock worth $2,276,000 after buying an additional 73 shares during the period. Keybank National Association OH grew its stake in Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider's stock worth $1,747,000 after buying an additional 76 shares during the period. Finally, Private Trust Co. NA grew its stake in Raymond James by 23.9% during the fourth quarter. Private Trust Co. NA now owns 487 shares of the financial services provider's stock worth $76,000 after buying an additional 94 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.54% of the company's stock.

Raymond James Price Performance

RJF traded down $1.25 on Tuesday, reaching $152.56. The company had a trading volume of 761,419 shares, compared to its average volume of 1,303,723. The company has a fifty day moving average of $139.53 and a 200-day moving average of $152.56. The company has a market capitalization of $30.78 billion, a P/E ratio of 14.88, a PEG ratio of 0.90 and a beta of 1.02. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a one year low of $104.24 and a one year high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 EPS. As a group, equities research analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. Raymond James's dividend payout ratio is presently 19.25%.

Wall Street Analysts Forecast Growth

RJF has been the subject of several analyst reports. StockNews.com downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Bank of America downgraded shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their target price on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Citigroup decreased their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $153.82.

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.