CX Institutional Boosts Holdings in Raymond James (NYSE:RJF)

CX Institutional raised its holdings in Raymond James (NYSE:RJF) by 2.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,323 shares of the financial services provider’s stock after acquiring an additional 66 shares during the period. CX Institutional’s holdings in Raymond James were worth $361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its holdings in 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 valued at $25,000 after buying an additional 198 shares during the period. Quarry LP purchased a new stake in shares of Raymond James during the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James during the 3rd quarter worth about $32,000. Gladius Capital Management LP purchased a new stake in shares of Raymond James during the 3rd quarter worth about $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Raymond James during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF opened at $172.67 on Monday. The business’s 50 day moving average is $161.67 and its two-hundred day moving average is $138.47. Raymond James has a 52-week low of $104.24 and a 52-week high of $173.15. The firm has a market cap of $35.29 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.04 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

Analysts Set New Price Targets

RJF has been the subject of a number of research reports. JMP Securities boosted their target price on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Bank of America boosted their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Citigroup upped their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $156.09.

Insider Buying and Selling at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. 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.

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.