Norden Group LLC Has $570,000 Holdings in Raymond James (NYSE:RJF)

Norden Group LLC raised its stake in Raymond James (NYSE:RJFFree Report) by 75.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,439 shares of the financial services provider’s stock after acquiring an additional 1,909 shares during the period. Norden Group LLC’s holdings in Raymond James were worth $570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Raymond James in the fourth quarter valued at about $30,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Raymond James in the 4th quarter worth approximately $33,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 1st quarter worth approximately $33,000. CVA Family Office LLC acquired a new stake in Raymond James during the 4th quarter valued at $50,000. Finally, Massmutual Trust Co. FSB ADV raised its position 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 valued at $62,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RJF shares. Keefe, Bruyette & Woods cut their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday. UBS Group decreased their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday. Bank of America dropped 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. Finally, Morgan Stanley increased their price objective on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $129.89.

Get Our Latest Analysis on RJF

Insider Transactions at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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

RJF stock opened at $119.83 on Thursday. The business’s fifty day moving average is $122.09 and its 200-day moving average is $119.72. The company has a market cap of $24.84 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.80 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19.

Raymond James (NYSE:RJFGet Free Report) last posted 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 analyst estimates of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. Raymond James’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 earnings per share. Equities research analysts forecast that Raymond James will post 9.54 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.45 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.80 annualized dividend and a yield of 1.50%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Raymond James Profile

(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.

Read More

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJFFree Report).

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

Receive News & Ratings for Raymond James Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James and related companies with MarketBeat.com's FREE daily email newsletter.