Wealthspire Advisors LLC Increases Stock Position in Raymond James (NYSE:RJF)

Wealthspire Advisors LLC boosted its holdings in Raymond James (NYSE:RJF) by 4.1% in the 4th quarter, Holdings Channel reports. The firm owned 6,812 shares of the financial services provider’s stock after purchasing an additional 266 shares during the period. Wealthspire Advisors LLC’s holdings in Raymond James were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of RJF. International Assets Investment Management LLC boosted its stake in shares of Raymond James by 44,291.7% during the third quarter. International Assets Investment Management LLC now owns 10,654 shares of the financial services provider’s stock worth $1,305,000 after buying an additional 10,630 shares during the period. Assenagon Asset Management S.A. increased its position in Raymond James by 468.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 27,576 shares of the financial services provider’s stock valued at $3,377,000 after acquiring an additional 22,728 shares during the period. Ballentine Partners LLC raised its stake in Raymond James by 21.4% during the 3rd quarter. Ballentine Partners LLC now owns 2,156 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 380 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Raymond James by 25.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,154 shares of the financial services provider’s stock worth $1,978,000 after acquiring an additional 3,282 shares during the period. Finally, Forsta AP Fonden grew its stake in shares of Raymond James by 17.0% in the 3rd quarter. Forsta AP Fonden now owns 35,800 shares of the financial services provider’s stock valued at $4,384,000 after purchasing an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RJF. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Morgan Stanley raised their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Finally, JMP Securities raised their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $166.09.

Insider Transactions at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly 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 sold 64,621 shares of company stock valued at $10,729,488 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Raymond James Stock Down 0.5 %

RJF stock opened at $150.96 on Wednesday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a market cap of $30.93 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.90 and a beta of 1.03. The company’s 50-day moving average price is $160.99 and its 200 day moving average price is $146.16.

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

Raymond James Announces Dividend

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

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.