Harrell Investment Partners LLC Has $643,000 Stock Holdings in Raymond James (NYSE:RJF)

Harrell Investment Partners LLC lowered its position in shares of Raymond James (NYSE:RJF) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,140 shares of the financial services provider’s stock after selling 210 shares during the quarter. Harrell Investment Partners LLC’s holdings in Raymond James were worth $643,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

RJF has been the subject of several recent analyst reports. Citigroup increased their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Bank of America upped their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price target on Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. 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 stock. According to data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus target price of $156.09.

Raymond James Price Performance

Shares of NYSE RJF opened at $172.67 on Friday. The firm has a market cap of $35.29 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The business’s 50 day moving average is $161.67 and its 200-day moving average is $138.34. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 1-year low of $104.24 and a 1-year high of $173.15.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the business earned $2.13 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that Raymond James will post 11.02 earnings per share for the current 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 paid a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.16%. Raymond James’s payout ratio is 20.60%.

Insider Buying and Selling at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’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 transaction, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, 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 position. 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 quarter. Company insiders own 0.54% of the company’s stock.

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.