Stablepoint Partners LLC Increases Stock Holdings in Raymond James (NYSE:RJF)

Stablepoint Partners LLC boosted its holdings in Raymond James (NYSE:RJF) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,651 shares of the financial services provider’s stock after purchasing an additional 73 shares during the quarter. Stablepoint Partners LLC’s holdings in Raymond James were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RJF. Flagship Harbor Advisors LLC increased its stake in shares of Raymond James by 6.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,832 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 172 shares during the last quarter. B.O.S.S. Retirement Advisors LLC acquired a new position in Raymond James during the fourth quarter worth approximately $324,000. CX Institutional raised its stake in Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 66 shares during the period. Donoghue Forlines LLC acquired a new position in shares of Raymond James in the 4th quarter valued at $2,055,000. Finally, Market Street Wealth Management Advisors LLC purchased a new stake in shares of Raymond James during the 4th quarter valued at $210,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Performance

Raymond James stock opened at $172.67 on Friday. Raymond James has a 12-month low of $104.24 and a 12-month high of $173.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market capitalization of $35.29 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The firm’s fifty day moving average price is $161.67 and its 200 day moving average price is $138.34.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates 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 for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 earnings per share. On average, research analysts forecast 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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.16%. Raymond James’s payout ratio is currently 20.60%.

Analyst Ratings Changes

Several brokerages recently weighed in on RJF. Morgan Stanley increased their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Citigroup lifted their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $156.09.

Insider Buying and Selling at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 32,688 shares in the company, 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. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 in the last three months. Corporate insiders own 0.54% of the company’s stock.

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.