1,290 Shares in Raymond James (NYSE:RJF) Acquired by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC bought a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,290 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC lifted its stake in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares during the period. Quarry LP acquired a new stake in Raymond James in the second quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the 3rd quarter valued at $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James in the 3rd quarter worth $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James in the third quarter valued at $37,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Trading Up 1.3 %

NYSE:RJF opened at $167.00 on Monday. The stock’s 50-day moving average is $160.77 and its two-hundred day moving average is $136.67. 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 $34.13 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.89 and a beta of 1.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.13 EPS. As a group, equities research analysts forecast that Raymond James will post 10.99 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.50 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. Raymond James’s dividend payout ratio (DPR) is presently 20.60%.

Analyst Ratings Changes

Several equities research analysts have commented on RJF shares. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Bank of America increased their target price on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup lifted their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. JMP Securities raised their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $166.00 target price (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $156.09.

Insider Buying and Selling at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 over the last 90 days. 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.