Flagship Harbor Advisors LLC Raises Stock Position in Raymond James (NYSE:RJF)

Flagship Harbor Advisors LLC lifted its position in Raymond James (NYSE:RJFFree Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,832 shares of the financial services provider’s stock after purchasing an additional 172 shares during the period. Flagship Harbor Advisors LLC’s holdings in Raymond James were worth $440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of Raymond James in the 4th quarter worth $324,000. CX Institutional lifted its stake in Raymond James by 2.9% in the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 66 shares during the period. Donoghue Forlines LLC bought a new position in Raymond James during the 4th quarter worth about $2,055,000. Market Street Wealth Management Advisors LLC purchased a new position in Raymond James during the 4th quarter valued at about $210,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Raymond James by 0.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 35,095 shares of the financial services provider’s stock valued at $5,451,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the topic of several research reports. TD Cowen lifted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company reduced their price target on Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price objective on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $166.00 price target (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $156.09.

Get Our Latest Research Report on RJF

Insider Buying and Selling at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by insiders.

Raymond James Trading Up 1.2 %

NYSE RJF opened at $171.36 on Wednesday. Raymond James has a 12-month low of $104.24 and a 12-month high of $173.15. The company has a fifty day simple moving average of $161.96 and a two-hundred day simple moving average of $139.17. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $35.02 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.04 and a beta of 1.02.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 20.60%.

Raymond James Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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