Stephens Inc. AR Grows Stock Holdings in Raymond James (NYSE:RJF)

Stephens Inc. AR boosted its position in Raymond James (NYSE:RJFFree Report) by 49.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,413 shares of the financial services provider’s stock after acquiring an additional 2,461 shares during the period. Stephens Inc. AR’s holdings in Raymond James were worth $827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steph & Co. grew its stake in shares of Raymond James by 9.3% during the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after buying an additional 91 shares during the period. Federated Hermes Inc. grew its stake in shares of Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock valued at $97,000 after buying an additional 96 shares during the period. Greenleaf Trust grew its stake in shares of Raymond James by 3.3% during the 3rd quarter. Greenleaf Trust now owns 3,683 shares of the financial services provider’s stock valued at $370,000 after buying an additional 118 shares during the period. Cardinal Capital Management grew its stake in shares of Raymond James by 0.4% during the 4th quarter. Cardinal Capital Management now owns 28,319 shares of the financial services provider’s stock valued at $3,170,000 after buying an additional 118 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Raymond James by 2.0% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,695 shares of the financial services provider’s stock valued at $746,000 after buying an additional 129 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Shares of Raymond James stock opened at $119.54 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19. The firm’s 50-day simple moving average is $124.32 and its 200-day simple moving average is $117.94. The firm has a market cap of $24.78 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 0.82 and a beta of 1.01.

Raymond James (NYSE:RJFGet Free Report) last announced 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 net margin of 12.72% and a return on equity of 17.94%. The business 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 company earned $2.03 EPS. Raymond James’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio is presently 21.77%.

Analyst Ratings Changes

RJF has been the subject of several research reports. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Morgan Stanley upped their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. TD Cowen decreased their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Citigroup boosted 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. Finally, Bank of America cut their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $126.22.

View Our Latest Stock Report on RJF

About Raymond James

(Free Report)

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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