Mackenzie Financial Corp Increases Position in Raymond James (NYSE:RJF)

Mackenzie Financial Corp grew its holdings in Raymond James (NYSE:RJF) by 50.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,621 shares of the financial services provider’s stock after purchasing an additional 6,944 shares during the quarter. Mackenzie Financial Corp’s holdings in Raymond James were worth $2,299,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in 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 buying an additional 246,349 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Raymond James by 4.8% during the 3rd quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after acquiring an additional 98,664 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Raymond James by 2.5% in the third quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock valued at $209,155,000 after purchasing an additional 51,239 shares during the period. Bank of New York Mellon Corp increased its position in Raymond James by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 1,368,766 shares of the financial services provider’s stock worth $137,465,000 after purchasing an additional 15,227 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its stake in Raymond James by 8.6% during the third quarter. Ceredex Value Advisors LLC now owns 768,046 shares of the financial services provider’s stock worth $77,455,000 after purchasing an additional 60,728 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Raymond James

In related news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction 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 in the company, valued at $2,405,057.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James 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 completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction on Friday, February 9th. The stock was purchased at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Shares of Raymond James stock opened at $125.48 on Tuesday. The stock has a market capitalization of $26.23 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 0.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The business has a 50-day moving average of $122.50 and a 200 day moving average of $111.97. Raymond James has a 12 month low of $82.00 and a 12 month high of $131.19.

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

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.43%. Raymond James’s dividend payout ratio (DPR) is 22.56%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RJF shares. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. UBS Group reduced their target price 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. Jefferies Financial Group reaffirmed a “hold” rating and issued a $117.00 price target (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. JMP Securities restated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Finally, Morgan Stanley increased their target price on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a 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 $123.88.

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.