Raymond James (NYSE:RJF) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC raised its holdings in shares of Raymond James (NYSE:RJF) by 91.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 242,225 shares of the financial services provider’s stock after acquiring an additional 115,396 shares during the quarter. Clearbridge Investments LLC’s holdings in Raymond James were worth $27,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James during the fourth quarter worth $30,000. Addison Advisors LLC lifted its position in shares of Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Raymond James during the fourth quarter worth $50,000. Headlands Technologies LLC lifted its position in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Raymond James by 52.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RJF. TD Cowen dropped their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Morgan Stanley lifted their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JMP Securities restated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Bank of America dropped their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, UBS Group lowered their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.22.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Raymond James Stock Down 0.2 %

Raymond James stock opened at $123.39 on Friday. The company has a 50-day simple moving average of $125.14 and a 200-day simple moving average of $116.10. The firm has a market capitalization of $25.58 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. Raymond James has a one year low of $88.81 and a one year high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.03 EPS. As a group, equities analysts expect that Raymond James will post 9.53 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, June 28th. Raymond James’s payout ratio is 21.77%.

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.