Access Investment Management LLC Purchases 220 Shares of Raymond James (NYSE:RJF)

Access Investment Management LLC lifted its stake in shares of Raymond James (NYSE:RJF) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,051 shares of the financial services provider’s stock after buying an additional 220 shares during the quarter. Raymond James comprises about 1.3% of Access Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. Access Investment Management LLC’s holdings in Raymond James were worth $4,512,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in RJF. Gladius Capital Management LP acquired a new position in Raymond James in the third quarter valued at about $34,000. Y.D. More Investments Ltd lifted its holdings in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Raymond James during the 3rd quarter valued at $37,000. Quarry LP lifted its holdings in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 187 shares in the last quarter. Finally, Eastern Bank acquired a new position in Raymond James during the 4th quarter valued at about $68,000. Institutional investors own 83.83% of the company’s stock.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 over the last three months. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Bank of America boosted their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, TD Cowen boosted 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. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $166.09.

Raymond James Price Performance

Shares of NYSE RJF opened at $151.34 on Friday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a 50 day simple moving average of $161.30 and a two-hundred day simple moving average of $145.31. The company has a market capitalization of $31.01 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James’s payout ratio is 19.51%.

Raymond James Company 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.