9,190 Shares in Raymond James (NYSE:RJF) Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new position in Raymond James (NYSE:RJF - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,190 shares of the financial services provider's stock, valued at approximately $1,427,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Raymond James during the 4th quarter worth about $294,647,000. Raymond James Financial Inc. acquired a new position in shares of Raymond James in the 4th quarter valued at about $105,701,000. JPMorgan Chase & Co. lifted its position in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock worth $556,533,000 after purchasing an additional 488,245 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Raymond James by 433.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider's stock worth $88,144,000 after purchasing an additional 461,069 shares during the period. Finally, Northern Trust Corp grew its position in Raymond James by 18.4% during the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider's stock valued at $327,314,000 after purchasing an additional 327,739 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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 report on Wednesday, April 30th. Morgan Stanley upped their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Cowen reissued a "hold" rating on shares of Raymond James in a research report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Finally, Citigroup dropped their target price on Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Raymond James presently has an average rating of "Hold" and a consensus target price of $153.82.

Insider Buying and Selling at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was 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 directly owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

Raymond James Stock Performance

RJF traded down $3.55 on Wednesday, hitting $149.07. The company had a trading volume of 231,778 shares, compared to its average volume of 1,299,532. The company's fifty day moving average price is $139.80 and its 200 day moving average price is $152.56. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The firm 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 company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 EPS. Equities analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Tuesday, April 1st. Raymond James's dividend payout ratio is 19.25%.

Raymond James Company 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.