Moseley Investment Management Inc. Makes New Investment in Raymond James (NYSE:RJF)

Moseley Investment Management Inc. acquired a new stake in shares of Raymond James (NYSE:RJF) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,425 shares of the financial services provider’s stock, valued at approximately $221,000.

Other large investors have also made changes to their positions in the company. Wolff Wiese Magana LLC raised its holdings in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP acquired a new stake in Raymond James during the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James during the 3rd quarter valued at about $32,000. Gladius Capital Management LP acquired a new position in shares of Raymond James in the 3rd quarter valued at about $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Raymond James in the third quarter worth about $37,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value 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 approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 in the last 90 days. 9.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RJF shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $166.00 price target (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Bank of America lifted their target price on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, JMP Securities increased their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Nine 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, Raymond James currently has an average rating of “Hold” and an average target price of $156.09.

Raymond James Stock Up 1.7 %

RJF opened at $156.89 on Wednesday. The company has a market cap of $32.06 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38. The company has a 50-day moving average price of $160.21 and a 200 day moving average price of $135.54. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Sell-side analysts expect that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is presently 20.60%.

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.