GAMMA Investing LLC Has $413,000 Holdings in Raymond James (NYSE:RJF)

GAMMA Investing LLC grew its position in Raymond James (NYSE:RJF) by 78.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,661 shares of the financial services provider’s stock after purchasing an additional 1,166 shares during the period. GAMMA Investing LLC’s holdings in Raymond James were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. State Street Corp boosted its position in shares of Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Geode Capital Management LLC increased its position in Raymond James by 0.3% during the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after acquiring an additional 12,869 shares during the period. Finally, AGF Management Ltd. raised its stake in Raymond James by 17.2% in the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Up 1.8 %

Shares of NYSE RJF opened at $157.72 on Monday. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 0.91 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38. The stock has a 50-day moving average price of $158.98 and a two-hundred day moving average price of $134.00.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, analysts forecast that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. Raymond James’s dividend payout ratio (DPR) is 20.60%.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last 90 days. Insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RJF. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Wells Fargo & Company reissued an “equal weight” rating and set a $169.00 price target (up previously from $152.00) on shares of Raymond James in a research report on Thursday, December 12th. JMP Securities lifted their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $146.00.

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.