Mather Group LLC. Raises Stock Position in Raymond James (NYSE:RJF)

Mather Group LLC. lifted its position in Raymond James (NYSE:RJF) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,673 shares of the financial services provider’s stock after purchasing an additional 150 shares during the period. Mather Group LLC.’s holdings in Raymond James were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RJF. Wolff Wiese Magana LLC lifted its holdings in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 198 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in Raymond James in the third quarter worth about $32,000. Gladius Capital Management LP purchased a new stake in Raymond James in the third quarter worth about $34,000. Peterson Financial Group Inc. purchased a new position in Raymond James during the 3rd quarter valued at about $37,000. Finally, Quarry LP raised its holdings in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RJF. Bank of America increased their price objective on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com raised Raymond James from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $166.09.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James 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 owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by insiders.

Raymond James Stock Performance

Shares of Raymond James stock opened at $168.39 on Friday. The firm has a market capitalization of $34.41 billion, a P/E ratio of 16.43, a PEG ratio of 0.98 and a beta of 1.03. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $162.13 and a 200 day moving average price of $141.46.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. Sell-side analysts expect that Raymond James will post 11.16 EPS for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.50 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.19%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 19.51%.

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.