Market Street Wealth Management Advisors LLC Takes Position in Raymond James (NYSE:RJF)

Market Street Wealth Management Advisors LLC acquired a new position in Raymond James (NYSE:RJF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,351 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Raymond James by 4.4% in the second quarter. Pacer Advisors Inc. now owns 13,499 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 569 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in Raymond James by 2.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 66,893 shares of the financial services provider’s stock worth $8,269,000 after buying an additional 1,585 shares during the period. ProShare Advisors LLC grew its stake in Raymond James by 31.0% in the 2nd quarter. ProShare Advisors LLC now owns 52,606 shares of the financial services provider’s stock valued at $6,503,000 after buying an additional 12,435 shares in the last quarter. DRW Securities LLC bought a new stake in Raymond James during the 2nd quarter valued at $200,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Raymond James by 6.8% during the second quarter. Public Sector Pension Investment Board now owns 31,698 shares of the financial services provider’s stock worth $3,918,000 after acquiring an additional 2,007 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Raymond James Stock Performance

NYSE RJF opened at $170.51 on Thursday. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38. The company has a fifty day moving average of $161.20 and a 200-day moving average of $137.59. The company has a market capitalization of $34.84 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last issued its quarterly 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 during 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 was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 earnings per share. As a group, equities research analysts predict that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.50 dividend. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. Raymond James’s payout ratio is presently 20.60%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RJF shares. Keefe, Bruyette & Woods lifted their price target on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Wells Fargo & Company decreased their price target on Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Citigroup raised their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $156.09.

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.