Market Street Wealth Management Advisors LLC Makes New $210,000 Investment in Raymond James (NYSE:RJF)

Market Street Wealth Management Advisors LLC acquired a new stake in Raymond James (NYSE:RJF) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,351 shares of the financial services provider’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in shares of Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after acquiring an additional 474,443 shares during the period. Two Sigma Advisers LP bought a new position in Raymond James during the third quarter worth $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in Raymond James during the third quarter worth $28,985,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Raymond James Stock Up 0.5 %

Raymond James stock opened at $170.51 on Thursday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The firm’s 50-day simple moving average is $161.20 and its 200 day simple moving average is $137.59. The stock has a market cap of $34.84 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.02.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. Research analysts predict that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.17%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 20.60%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $166.00 price objective (up previously from $151.00) on shares of Raymond James in a report on Tuesday, January 7th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Bank of America upped their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.09.

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.