HighPoint Advisor Group LLC Acquires Shares of 1,605 Raymond James (NYSE:RJF)

HighPoint Advisor Group LLC bought a new stake in Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,605 shares of the financial services provider’s stock, valued at approximately $179,000.

A number of other institutional investors have also recently made changes to their positions in the company. Steph & Co. boosted its holdings in Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after buying an additional 91 shares during the period. Federated Hermes Inc. grew its position in shares of Raymond James by 12.4% in the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 96 shares in the last quarter. Oarsman Capital Inc. raised its stake in shares of Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after purchasing an additional 99 shares during the period. Cardinal Capital Management lifted its holdings in Raymond James by 0.4% during the 4th quarter. Cardinal Capital Management now owns 28,319 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 118 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Raymond James by 2.0% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,695 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of Raymond James stock opened at $120.69 on Friday. The firm has a market cap of $25.02 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.01. The company’s fifty day simple moving average is $122.69 and its two-hundred day simple moving average is $118.67. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19.

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

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s payout ratio is presently 21.77%.

Insider Activity at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James E. Bunn sold 11,095 shares of the firm’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 transaction, the insider now owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RJF shares. TD Cowen reduced their price objective on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Keefe, Bruyette & Woods lowered their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Bank of America dropped their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Citigroup upped their target price on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.