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

GAMMA Investing LLC grew its stake in shares of Raymond James (NYSE:RJF) by 78.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,661 shares of the financial services provider’s stock after buying 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.

Several other institutional investors also recently modified their holdings of the stock. Wolff Wiese Magana LLC grew its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Quarry LP bought a new position in shares of Raymond James during the second quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the 3rd quarter valued at $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James in the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in Raymond James during the 3rd quarter worth $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JMP Securities increased their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Bank of America increased their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $146.00.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction 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 sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. Insiders own 9.74% of the company’s stock.

Raymond James Trading Up 1.8 %

Raymond James stock 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 P/E/G ratio of 0.91 and a beta of 1.02. The firm has a 50-day moving average of $158.98 and a 200-day moving average of $134.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. Raymond James has a one year low of $104.24 and a one year high of $171.38.

Raymond James (NYSE:RJF) last issued its quarterly earnings results 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. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 earnings per share. On average, equities analysts expect that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

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

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.