3,370 Shares in Raymond James (NYSE:RJF) Bought by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,370 shares of the financial services provider’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RJF. Wellington Management Group LLP lifted its position in Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after purchasing an additional 2,510,966 shares during the last quarter. Norges Bank bought a new position in Raymond James during the fourth quarter valued at $206,765,000. JPMorgan Chase & Co. lifted its position in Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock valued at $641,330,000 after purchasing an additional 1,448,047 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Raymond James by 214.5% during the first quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock valued at $106,474,000 after purchasing an additional 778,644 shares during the last quarter. Finally, Morgan Stanley lifted its position in Raymond James by 35.1% during the fourth quarter. Morgan Stanley now owns 2,278,272 shares of the financial services provider’s stock valued at $243,433,000 after purchasing an additional 591,327 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

RJF has been the subject of several research reports. TD Cowen increased their price objective on shares of Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Morgan Stanley increased their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus target price of $123.88.

Raymond James Trading Up 0.0 %

RJF stock opened at $121.96 on Friday. The company has a market capitalization of $25.49 billion, a PE ratio of 15.28, a P/E/G ratio of 0.86 and a beta of 1.05. Raymond James has a 12 month low of $82.00 and a 12 month high of $131.19. The firm’s 50-day moving average is $122.16 and its 200 day moving average is $111.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.25 by $0.15. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 EPS. On average, research analysts anticipate that Raymond James will post 9.36 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is presently 22.56%.

Insider Buying and Selling

In related news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares in the company, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by insiders.

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.