Kestra Private Wealth Services LLC Acquires 119 Shares of Raymond James (NYSE:RJF)

Kestra Private Wealth Services LLC raised its holdings in shares of Raymond James (NYSE:RJF) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,212 shares of the financial services provider’s stock after purchasing an additional 119 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Raymond James were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Raymond James in the third quarter worth about $34,000. Y.D. More Investments Ltd boosted its holdings in shares of Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the period. Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter valued at $37,000. Quarry LP lifted its position in Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new position in Raymond James during the fourth quarter worth $68,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Raymond James Stock Down 0.5 %

Shares of Raymond James stock opened at $159.63 on Friday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.98 and a beta of 1.03. The firm’s 50-day moving average is $161.67 and its two-hundred day moving average is $143.67.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, research analysts expect that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. Raymond James’s payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JMP Securities increased their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Morgan Stanley upped their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $166.09.

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.