2,375 Shares in Raymond James (NYSE:RJF) Bought by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,375 shares of the financial services provider’s stock, valued at approximately $265,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Raymond James during the fourth quarter valued at $30,000. Advisors Asset Management Inc. purchased a new position in Raymond James during the third quarter valued at $30,000. Covestor Ltd lifted its position in Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 138 shares in the last quarter. Clear Street Markets LLC lifted its position in Raymond James by 95.9% during the first quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 187 shares in the last quarter. Finally, Addison Advisors LLC lifted its position in shares of Raymond James by 32.9% in the third 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 in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on RJF. JMP Securities restated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. TD Cowen boosted their price objective on Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. The Goldman Sachs Group restated a “neutral” rating and issued a $116.00 price objective (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Finally, Citigroup boosted their price objective on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $123.88.

Insiders Place Their Bets

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

Raymond James Trading Up 0.0 %

Shares of RJF stock opened at $121.96 on Friday. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average price is $122.16 and its 200-day moving average price is $111.40. The stock has a market capitalization of $25.49 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts predict that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.48%. Raymond James’s payout ratio is currently 22.56%.

About Raymond James

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.