Raymond James (NYSE:RJF) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its position in shares of Raymond James (NYSE:RJF) by 2.5% in the first quarter, Holdings Channel.com reports. The firm owned 6,330 shares of the financial services provider’s stock after acquiring an additional 153 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Raymond James were worth $879,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RJF. FMR LLC lifted its position in shares of Raymond James by 2.2% in the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after buying an additional 137,277 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Raymond James by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock worth $680,378,000 after buying an additional 40,576 shares in the last quarter. Earnest Partners LLC raised its position in shares of Raymond James by 1.0% during the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock worth $393,554,000 after buying an additional 24,195 shares in the last quarter. Invesco Ltd. grew its stake in shares of Raymond James by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock worth $378,276,000 after purchasing an additional 192,904 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Raymond James by 18.4% in the 4th quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock worth $327,314,000 after purchasing an additional 327,739 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the company’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 transaction, the insider now owns 74,586 shares in the company, valued at approximately $10,935,053.46. The trade was a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Raymond James Trading Down 2.1%

Shares of Raymond James stock opened at $145.48 on Friday. The firm has a market capitalization of $29.35 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. 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 company’s fifty day moving average price is $142.57 and its two-hundred day moving average price is $150.76. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the company posted $2.31 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. JMP Securities restated a “market outperform” rating and set a $175.00 price target on shares of Raymond James in a report on Thursday, April 24th. Cowen reiterated a “hold” rating on shares of Raymond James in a research note on Thursday, April 24th. Bank of America cut shares of Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $153.82.

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.