Atria Wealth Solutions Inc. Invests $625,000 in Raymond James (NYSE:RJF)

Atria Wealth Solutions Inc. acquired a new stake in Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,024 shares of the financial services provider’s stock, valued at approximately $625,000.

Several other institutional investors have also added to or reduced their stakes in RJF. Wellington Management Group LLP raised its holdings in shares of Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. State Street Corp boosted its stake in shares of Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after buying an additional 54,265 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after acquiring an additional 488,245 shares during the period. Geode Capital Management LLC grew its stake in shares of Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after purchasing an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Raymond James by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after purchasing an additional 7,121 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RJF shares. Wells Fargo & Company increased their price target on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. TD Cowen boosted their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Bank of America lifted their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $166.09.

Raymond James Stock Up 0.2 %

Shares of RJF opened at $151.19 on Thursday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $160.97 and a 200 day moving average of $146.20. The company has a market cap of $30.98 billion, a PE ratio of 14.75, a P/E/G ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, sell-side analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is 19.51%.

Insider Transactions at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was 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 valued at $10,729,488. 0.54% of the stock is currently owned by corporate insiders.

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.