Brighton Jones LLC Invests $216,000 in Raymond James (NYSE:RJF)

Brighton Jones LLC bought a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,939 shares of the financial services provider’s stock, valued at approximately $216,000.

Other institutional investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Raymond James during the fourth quarter worth about $30,000. Addison Advisors LLC boosted its holdings in shares of Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares during the period. CVA Family Office LLC purchased a new stake in shares of Raymond James during the fourth quarter worth about $50,000. Headlands Technologies LLC boosted its holdings in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 302 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its stake in Raymond James by 52.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after buying an additional 192 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. TD Cowen decreased their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Citigroup increased their price target on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and raised their target price for the company from $110.00 to $135.00 in a research note on Wednesday, January 10th. Finally, Morgan Stanley raised 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. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.22.

Insider Buying and Selling

In related news, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction 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 transaction, the chief executive officer now 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 available at this hyperlink. Also, Director Art A. Garcia purchased 879 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, 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 corporate insiders.

Raymond James Trading Up 0.4 %

NYSE:RJF opened at $124.42 on Friday. The company’s 50 day moving average price is $123.53 and its 200-day moving average price is $113.15. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market cap of $26.01 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.84 and a beta of 1.03.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company earned $2.03 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 21.77%.

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.