1,281 Shares in Raymond James (NYSE:RJF) Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new stake in Raymond James (NYSE:RJF) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,281 shares of the financial services provider’s stock, valued at approximately $211,000.

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

Insiders Place Their Bets

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 in the last quarter. 0.54% of the stock is currently owned by insiders.

Raymond James Stock Performance

Shares of RJF opened at $165.99 on Tuesday. The stock has a market cap of $33.92 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.98 and a beta of 1.02. The company has a 50-day moving average of $162.33 and a two-hundred day moving average of $140.70. 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 $174.32.

Raymond James (NYSE:RJF) last posted its quarterly 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 net margin of 14.06% and a return on equity of 19.99%. On average, equities research analysts expect that Raymond James will post 11.16 earnings per share for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. Raymond James’s payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RJF shares. Wells Fargo & Company upped their price objective 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. Bank of America upped their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Morgan Stanley increased their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, 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 report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently 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.