7,679 Shares in Raymond James (NYSE:RJF) Purchased by Chilton Investment Co. Inc.

Chilton Investment Co. Inc. acquired a new position in Raymond James (NYSE:RJF) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,679 shares of the financial services provider’s stock, valued at approximately $856,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RJF. Turtle Creek Wealth Advisors LLC acquired a new stake in Raymond James in the 4th quarter worth about $30,000. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the 4th quarter worth about $33,000. CVA Family Office LLC acquired a new stake in Raymond James in the 4th quarter worth about $50,000. Headlands Technologies LLC raised its stake in Raymond James by 139.8% in the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Up 1.3 %

Shares of Raymond James stock opened at $118.81 on Thursday. The firm has a market capitalization of $24.63 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.81 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $124.09 and its 200 day moving average is $118.03. Raymond James has a 1 year low of $91.67 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $2.03 earnings per share. Equities research analysts forecast that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Monday, July 1st. Raymond James’s payout ratio is 21.77%.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RJF shares. Morgan Stanley lifted their price objective on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. TD Cowen dropped their target price on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. JMP Securities restated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Finally, Citigroup boosted their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Raymond James currently has an average rating of “Hold” and an average target price of $126.22.

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.