GW Henssler & Associates Ltd. purchased a new stake in shares of Raymond James (NYSE:RJF – Get Rating) during the fourth quarter, Holdings Channel.com reports. The fund purchased 4,048 shares of the financial services provider’s stock, valued at approximately $406,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of RJF. Bank of America Corp DE lifted its position in shares of Raymond James by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 1,664,977 shares of the financial services provider’s stock valued at $216,280,000 after buying an additional 65,993 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Raymond James by 48.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,455 shares of the financial services provider’s stock valued at $1,057,000 after buying an additional 3,716 shares during the last quarter. DNB Asset Management AS lifted its position in shares of Raymond James by 62.7% during the 3rd quarter. DNB Asset Management AS now owns 21,155 shares of the financial services provider’s stock valued at $1,952,000 after buying an additional 8,150 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in Raymond James by 50.5% during the 3rd quarter. NEXT Financial Group Inc now owns 2,932 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 984 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Raymond James by 91.6% during the 3rd quarter. Fifth Third Bancorp now owns 31,127 shares of the financial services provider’s stock worth $2,872,000 after purchasing an additional 14,878 shares in the last quarter. 74.23% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on RJF shares. Morgan Stanley dropped their price objective on Raymond James from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Tuesday, March 8th. Zacks Investment Research cut Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 price objective on the stock. in a report on Wednesday. Seaport Res Ptn raised Raymond James from a “neutral” rating to a “buy” rating in a report on Friday, January 28th. StockNews.com started coverage on Raymond James in a report on Thursday. They set a “hold” rating on the stock. Finally, Citigroup increased their price objective on Raymond James from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, March 28th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $130.33.
In related news, COO Jeffrey A. Dowdle sold 18,972 shares of the stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $112.73, for a total transaction of $2,138,713.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bella Loykhter Allaire sold 15,000 shares of the stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $114.78, for a total value of $1,721,700.00. The disclosure for this sale can be found here. 10.25% of the stock is currently owned by corporate insiders.
NYSE RJF traded down $0.63 during trading on Friday, reaching $108.94. The company’s stock had a trading volume of 1,392,574 shares, compared to its average volume of 1,317,612. The stock has a market capitalization of $22.62 billion, a PE ratio of 15.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a fifty day moving average of $106.27 and a 200 day moving average of $102.18. Raymond James has a one year low of $81.96 and a one year high of $117.37.
Raymond James (NYSE:RJF – Get Rating) last announced its quarterly earnings data on Wednesday, January 26th. The financial services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.77 by $0.35. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.67 billion. Raymond James had a return on equity of 20.04% and a net margin of 14.68%. During the same period in the prior year, the company earned $1.49 EPS. Research analysts expect that Raymond James will post 7.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 18th. Stockholders of record on Monday, April 4th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, April 1st. This represents a $1.36 annualized dividend and a dividend yield of 1.25%. Raymond James’s dividend payout ratio (DPR) is presently 18.77%.
About Raymond James (Get Rating)
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.
See Also
Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJF – Get Rating).
Want More Great Investing Ideas?
Receive News & Ratings for Raymond James Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Raymond James and related companies with MarketBeat.com’s FREE daily email newsletter.
