Atria Wealth Solutions Inc. Acquires 302 Shares of Raymond James (NYSE:RJF)

Atria Wealth Solutions Inc. grew its position in shares of Raymond James (NYSE:RJF) by 11.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,900 shares of the financial services provider’s stock after purchasing an additional 302 shares during the period. Atria Wealth Solutions Inc.’s holdings in Raymond James were worth $324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Raymond James by 269.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider’s stock worth $25,923,000 after buying an additional 188,305 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Raymond James in the 3rd quarter worth $12,737,000. Envestnet Asset Management Inc. lifted its holdings in shares of Raymond James by 33.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 472,904 shares of the financial services provider’s stock worth $47,494,000 after acquiring an additional 117,672 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in Raymond James in the third quarter worth $10,633,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In other news, Director Art A. Garcia acquired 879 shares of the business’s stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now owns 879 shares in the company, valued at approximately $98,711.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on RJF shares. Bank of America dropped their price target on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Citigroup increased their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $110.00 to $135.00 in a research note on Wednesday, January 10th. TD Cowen decreased their target price on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reduced their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $126.22.

Raymond James Stock Performance

Raymond James stock opened at $125.27 on Wednesday. Raymond James has a 1-year low of $84.06 and a 1-year high of $131.19. The firm has a market cap of $26.19 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.85 and a beta of 1.03. 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 50-day moving average of $123.79 and a 200-day moving average of $113.68.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business posted $2.03 earnings per share. Raymond James’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts expect that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.44%. Raymond James’s dividend payout ratio is 21.77%.

Raymond James Company 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.