Sanctuary Advisors LLC Buys 2,193 Shares of Raymond James (NYSE:RJF)

Sanctuary Advisors LLC grew its stake in shares of Raymond James (NYSE:RJF) by 9.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,549 shares of the financial services provider’s stock after purchasing an additional 2,193 shares during the period. Sanctuary Advisors LLC’s holdings in Raymond James were worth $3,129,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. Wellington Management Group LLP increased its holdings 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 purchasing an additional 2,898,242 shares in the last quarter. Ceredex Value Advisors LLC increased its holdings in Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares in the last quarter. AGF Management Ltd. increased its holdings in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Raymond James during the 3rd quarter worth approximately $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Raymond James in the third quarter valued at approximately $28,985,000. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Down 1.6 %

NYSE:RJF opened at $157.90 on Wednesday. The company has a market cap of $32.22 billion, a P/E ratio of 16.26, a P/E/G ratio of 0.91 and a beta of 1.00. The stock’s fifty day moving average price is $153.81 and its two-hundred day moving average price is $130.64. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

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

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 20.60%.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the 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 completion of the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents 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 worth $10,729,488 over the last 90 days. Corporate insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RJF. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $169.00 target price (up from $152.00) on shares of Raymond James in a report on Thursday, December 12th. Bank of America upped their target price on 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 upped their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $142.45.

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.