Raymond James (NYSE:RJF) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Raymond James (NYSE:RJF) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,128 shares of the financial services provider’s stock after acquiring an additional 769 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Raymond James were worth $6,078,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RJF. Acadian Asset Management LLC acquired a new stake in Raymond James in the second quarter valued at $708,000. Choreo LLC acquired a new stake in Raymond James in the second quarter valued at $330,000. American Century Companies Inc. raised its holdings in Raymond James by 2.2% in the second quarter. American Century Companies Inc. now owns 119,003 shares of the financial services provider’s stock valued at $14,710,000 after acquiring an additional 2,531 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Raymond James by 11.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 37,312 shares of the financial services provider’s stock valued at $4,519,000 after acquiring an additional 3,694 shares in the last quarter. Finally, Meeder Advisory Services Inc. acquired a new stake in Raymond James in the second quarter valued at $210,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 in the last 90 days. Corporate insiders own 9.74% of the company’s stock.

Raymond James Stock Up 0.0 %

Raymond James stock opened at $154.23 on Tuesday. The company has a 50-day simple moving average of $160.21 and a 200-day simple moving average of $135.54. The firm has a market capitalization of $31.52 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. Raymond James has a one year low of $104.24 and a one year high of $171.38.

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

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 20.60%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RJF. Wells Fargo & Company reissued an “equal weight” rating and set a $169.00 target price (up from $152.00) on shares of Raymond James in a report on Thursday, December 12th. Citigroup increased their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday. JMP Securities increased their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $166.00 target price (up from $151.00) on shares of Raymond James in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $156.18.

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.