Caprock Group LLC Grows Position in Raymond James (NYSE:RJF)

Caprock Group LLC grew its stake in Raymond James (NYSE:RJF) by 3.1% during the 4th quarter, HoldingsChannel reports. The firm owned 6,207 shares of the financial services provider’s stock after buying an additional 184 shares during the quarter. Caprock Group LLC’s holdings in Raymond James were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Raymond James by 31.4% in the 3rd 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 raised its stake in 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 valued at $976,587,000 after purchasing an additional 54,265 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares during the last quarter. Geode Capital Management LLC raised its stake in Raymond James by 0.3% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 valued at $130,340,000 after purchasing an additional 7,121 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen raised their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Bank of America raised their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average target price of $166.09.

Raymond James Stock Performance

Shares of Raymond James stock opened at $165.99 on Tuesday. The business has a 50-day moving average of $162.33 and a 200 day moving average of $140.70. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The stock has a market capitalization of $33.92 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. 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 (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, sell-side analysts forecast that Raymond James will post 11.16 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

About Raymond James

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.