Raymond James (NYSE:RJF) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Raymond James (NYSE:RJF) by 20.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 150,146 shares of the financial services provider’s stock after acquiring an additional 25,768 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Raymond James were worth $16,741,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Raymond James by 1.9% during the first quarter. Vanguard Group Inc. now owns 21,689,564 shares of the financial services provider’s stock worth $2,383,900,000 after purchasing an additional 410,025 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Raymond James by 2.2% during the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock worth $1,161,981,000 after purchasing an additional 246,349 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock worth $641,330,000 after purchasing an additional 1,448,047 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Raymond James by 1.9% during the first quarter. Geode Capital Management LLC now owns 4,018,058 shares of the financial services provider’s stock worth $373,915,000 after purchasing an additional 76,385 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Raymond James by 35.1% during the fourth quarter. Morgan Stanley now owns 2,278,272 shares of the financial services provider’s stock worth $243,433,000 after purchasing an additional 591,327 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction that occurred on 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 directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now directly 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.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Morgan Stanley raised their price objective on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. UBS Group cut their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $117.00 target price (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.88.

Raymond James Stock Down 1.6 %

Shares of NYSE RJF opened at $122.55 on Monday. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.86 and a beta of 1.05. Raymond James has a 1 year low of $82.00 and a 1 year high of $131.19. The stock’s 50-day simple moving average is $121.33 and its 200-day simple moving average is $110.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. As a group, equities analysts anticipate that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be paid a $0.45 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.47%. Raymond James’s dividend payout ratio (DPR) is 22.56%.

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.