Ballentine Partners LLC Invests $234,000 in Raymond James (NYSE:RJF)

Ballentine Partners LLC bought a new position in Raymond James (NYSE:RJF) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,821 shares of the financial services provider’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Raymond James in the 4th quarter worth approximately $30,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Raymond James in the 4th quarter worth approximately $33,000. CVA Family Office LLC purchased a new position in shares of Raymond James in the 4th quarter worth approximately $50,000. Massmutual Trust Co. FSB ADV lifted its stake in Raymond James by 52.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 192 shares during the last quarter. Finally, Addison Advisors LLC lifted its stake in Raymond James by 32.7% in the fourth quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Down 0.1 %

Raymond James stock opened at $121.51 on Thursday. The stock has a market cap of $25.19 billion, a P/E ratio of 14.69, a PEG ratio of 0.83 and a beta of 1.01. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The firm’s fifty day moving average price is $122.68 and its 200-day moving average price is $119.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

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). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. Equities research analysts forecast that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.45 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. Raymond James’s payout ratio is currently 21.77%.

Insider Transactions at Raymond James

In related 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 completion of the transaction, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly 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 hyperlink. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of 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. Insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

RJF has been the topic of several research analyst reports. TD Cowen dropped their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods dropped their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note 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 on the stock in a research note on Thursday, April 25th. Citigroup upped their price objective on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley upped their price objective on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $126.22.

Raymond James 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.