Bank of New Hampshire Raises Holdings in Raymond James (NYSE:RJF)

Bank of New Hampshire grew its position in shares of Raymond James (NYSE:RJF) by 99,290.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,939 shares of the financial services provider’s stock after acquiring an additional 9,929 shares during the quarter. Bank of New Hampshire’s holdings in Raymond James were worth $1,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the period. Quarry LP purchased a new position in shares of Raymond James in the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new stake in Raymond James during the 3rd quarter worth $32,000. Gladius Capital Management LP acquired a new stake in Raymond James in the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in Raymond James in the 3rd quarter valued at $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of NYSE RJF traded down $3.07 during trading on Tuesday, reaching $156.80. The stock had a trading volume of 50,278 shares, compared to its average volume of 638,634. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a market cap of $31.99 billion, a PE ratio of 16.15, a P/E/G ratio of 0.91 and a beta of 1.02. Raymond James has a one year low of $104.24 and a one year high of $171.38. The firm’s 50 day moving average price is $159.21 and its two-hundred day moving average price is $134.29.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts forecast that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.50 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is currently 20.60%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RJF. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $169.00 price target (up previously from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. Finally, Bank of America upped their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $152.73.

Insider Buying and Selling at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock worth $10,729,488 over the last ninety days. Company insiders own 9.74% of the company’s stock.

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.