Y Intercept Hong Kong Ltd Increases Stock Holdings in Raymond James (NYSE:RJF)

Y Intercept Hong Kong Ltd boosted its stake in Raymond James (NYSE:RJF) by 57.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,966 shares of the financial services provider’s stock after acquiring an additional 2,183 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Raymond James were worth $927,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RJF. Wellington Management Group LLP lifted its position in shares of Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Raymond James during the third quarter valued at about $34,105,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Raymond James during the third quarter worth about $28,985,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,451 shares of company stock valued at $10,531,255 over the last three months. 0.54% of the stock is currently owned by insiders.

Raymond James Price Performance

Shares of RJF opened at $151.58 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The business’s 50-day moving average is $160.98 and its 200-day moving average is $146.24. The company has a market capitalization of $31.06 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Equities research analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RJF. Bank of America increased their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JMP Securities increased their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.09.

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.