GAMMA Investing LLC Takes $100,000 Position in Raymond James (NYSE:RJF)

GAMMA Investing LLC bought a new stake in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 909 shares of the financial services provider’s stock, valued at approximately $100,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RJF. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James during the 4th quarter valued at approximately $30,000. Addison Advisors LLC grew its position in shares of Raymond James by 32.9% during the 3rd 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 during the period. CVA Family Office LLC bought a new position in shares of Raymond James during the 4th quarter valued at approximately $50,000. Headlands Technologies LLC boosted its holdings in Raymond James by 139.8% in the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock worth $52,000 after buying an additional 302 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after buying an additional 192 shares during the period. 83.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price 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 of the company’s stock, valued at $98,711.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.74% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RJF shares. Citigroup raised their price objective 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $116.00 price objective (down from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods cut their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday. Jefferies Financial Group reissued a “hold” rating and issued a $117.00 price target (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, Bank of America cut their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $126.22.

Raymond James Stock Performance

Raymond James stock opened at $121.86 on Monday. The firm’s fifty day moving average price is $123.10 and its 200-day moving average price is $112.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The stock has a market cap of $25.47 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.85 and a beta of 1.05. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 EPS. On average, equities research analysts expect that Raymond James will post 9.37 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s payout ratio is presently 21.77%.

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.