First Trust Direct Indexing L.P. Has $403,000 Stock Holdings in Raymond James (NYSE:RJF)

First Trust Direct Indexing L.P. grew its stake in Raymond James (NYSE:RJF) by 53.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,616 shares of the financial services provider’s stock after buying an additional 1,259 shares during the period. First Trust Direct Indexing L.P.’s holdings in Raymond James were worth $403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James during the fourth quarter worth about $30,000. Addison Advisors LLC boosted its stake in Raymond James by 32.9% during the 3rd 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 acquired a new position in Raymond James during the fourth quarter valued at approximately $50,000. Headlands Technologies LLC increased its stake in Raymond James by 139.8% in the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Raymond James by 52.5% during 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. 83.83% of the stock is currently 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 dated Friday, February 9th. The stock was bought at an average price 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 approximately $98,711.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Art A. Garcia purchased 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now 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 corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on RJF shares. Bank of America lowered their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. UBS Group dropped their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $126.22.

Raymond James Stock Up 0.9 %

Shares of RJF stock opened at $125.57 on Tuesday. The firm’s fifty day moving average price is $123.65 and its two-hundred day moving average price is $113.48. Raymond James has a 1 year low of $84.06 and a 1 year 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 firm has a market capitalization of $26.25 billion, a P/E ratio of 15.18, a PEG ratio of 0.85 and a beta of 1.03.

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, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 EPS. On average, equities analysts predict that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors 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 is presently 21.77%.

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.