Rhumbline Advisers Raises Holdings in Raymond James (NYSE:RJF)

Rhumbline Advisers increased its position in Raymond James (NYSE:RJF) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 370,810 shares of the financial services provider’s stock after buying an additional 38,442 shares during the quarter. Rhumbline Advisers owned about 0.18% of Raymond James worth $51,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. TCTC Holdings LLC raised its position in shares of Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares during the period. Y.D. More Investments Ltd grew its stake in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares in the last quarter. Plato Investment Management Ltd grew its stake in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares in the last quarter. Covestor Ltd grew its stake in shares of Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Raymond James in the fourth quarter worth about $53,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RJF shares. Citigroup decreased their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. JMP Securities reiterated a “market outperform” rating and set a $175.00 price objective on shares of Raymond James in a research report on Thursday, April 24th. Cowen reaffirmed a “hold” rating on shares of Raymond James in a research note on Thursday, April 24th. Bank of America lowered Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group cut their price objective on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus target price of $153.82.

Raymond James Stock Performance

Shares of Raymond James stock opened at $146.20 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a market cap of $29.50 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.90 and a beta of 1.03. The firm has a 50 day simple moving average of $140.36 and a 200 day simple moving average of $151.81. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the business earned $2.31 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James’s payout ratio is 19.25%.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider now owns 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider now owns 78,227 shares of the company’s stock, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Raymond James 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.