Norden Group LLC Has $282,000 Holdings in Raymond James (NYSE:RJF)

Norden Group LLC trimmed its holdings in shares of Raymond James (NYSE:RJF) by 28.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,530 shares of the financial services provider’s stock after selling 997 shares during the quarter. Norden Group LLC’s holdings in Raymond James were worth $282,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James in the 4th quarter valued at approximately $30,000. Addison Advisors LLC lifted its stake in shares of Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Raymond James during the 4th quarter worth $50,000. Headlands Technologies LLC grew its stake in Raymond James by 139.8% in the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after buying an additional 302 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 192 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Art A. Garcia acquired 879 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now directly owns 879 shares in the company, valued at $98,711.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Raymond James Stock Performance

NYSE:RJF opened at $122.55 on Thursday. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The firm has a market capitalization of $25.62 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.83 and a beta of 1.03. The firm has a 50-day moving average price of $123.31 and a 200 day moving average price of $113.01. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the business earned $2.03 EPS. Raymond James’s quarterly revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that Raymond James will post 9.56 earnings per share for the current fiscal 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 21.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RJF. UBS Group lowered their price target on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Citigroup upped their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. TD Cowen lowered their price objective on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Bank of America cut their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $126.22.

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.