Bleakley Financial Group LLC Increases Holdings in Raymond James (NYSE:RJF)

Bleakley Financial Group LLC raised its stake in shares of Raymond James (NYSE:RJF) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,560 shares of the financial services provider’s stock after buying an additional 216 shares during the period. Bleakley Financial Group LLC’s holdings in Raymond James were worth $285,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RJF. Advisors Asset Management Inc. purchased a new stake in shares of Raymond James in the 3rd quarter worth $30,000. Covestor Ltd increased its stake in shares of Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 138 shares in the last quarter. Clear Street Markets LLC increased its stake in shares of Raymond James by 95.9% in the 1st quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 187 shares in the last quarter. Addison Advisors LLC increased its stake in shares of Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares in the last quarter. Finally, Resources Management Corp CT ADV boosted its holdings in Raymond James by 661.3% in the 2nd quarter. Resources Management Corp CT ADV now owns 472 shares of the financial services provider’s stock worth $49,000 after buying an additional 410 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Down 0.0 %

RJF opened at $122.52 on Tuesday. The firm has a 50-day simple moving average of $121.54 and a two-hundred day simple moving average of $111.10. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. The company has a market capitalization of $25.61 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the firm earned $2.29 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts forecast that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Announces Dividend

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

Insider Activity at Raymond James

In related news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction dated Monday, January 29th. The shares were 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 owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Analysts Set New Price Targets

RJF has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. TD Cowen upped their target price on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $116.00 target price (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Citigroup upped their target price on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.88.

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.