International Assets Investment Management LLC Boosts Stake in Raymond James (NYSE:RJF)

International Assets Investment Management LLC increased its position in Raymond James (NYSE:RJF) by 4,941.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,798 shares of the financial services provider’s stock after buying an additional 5,683 shares during the period. International Assets Investment Management LLC’s holdings in Raymond James were worth $646,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RJF. Addison Advisors LLC increased its stake in Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Raymond James during the fourth quarter valued at approximately $50,000. Headlands Technologies LLC grew its stake in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after buying an additional 302 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Raymond James by 52.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Raymond James by 2,328.1% in the third quarter. Federated Hermes Inc. now owns 777 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 745 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. The Goldman Sachs Group restated a “neutral” rating and set 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 Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley upped their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.88.

Raymond James Stock Performance

Shares of RJF opened at $127.54 on Thursday. Raymond James has a 12 month low of $82.00 and a 12 month high of $131.19. The stock has a fifty day moving average price of $122.97 and a 200-day moving average price of $112.28. 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 firm has a market cap of $26.66 billion, a PE ratio of 15.98, a P/E/G ratio of 0.88 and a beta of 1.05.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.03. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the firm earned $2.03 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is 22.56%.

Insider Activity at Raymond James

In other news, Director Art A. Garcia bought 879 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased 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 in the company, valued at $98,711.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Raymond James news, 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought 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 directly owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by insiders.

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.