Choreo LLC Acquires 1,170 Shares of Raymond James (NYSE:RJF)

Choreo LLC boosted its holdings in shares of Raymond James (NYSE:RJF) by 40.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,029 shares of the financial services provider’s stock after buying an additional 1,170 shares during the quarter. Choreo LLC’s holdings in Raymond James were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RJF. Wellington Management Group LLP grew its position in shares of Raymond James by 31.4% during 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 acquiring an additional 2,898,242 shares during the period. State Street Corp lifted its position in Raymond James by 0.7% during the third 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in Raymond James by 12.0% during the third 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 period. Geode Capital Management LLC increased its position in Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after buying an additional 12,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Raymond James by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after buying an additional 7,121 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James 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 completion of the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RJF. Citigroup boosted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company upped their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $166.09.

Raymond James Price Performance

Shares of Raymond James stock opened at $162.32 on Tuesday. The firm has a market cap of $33.17 billion, a PE ratio of 15.84, a PEG ratio of 0.98 and a beta of 1.03. The stock has a 50 day moving average of $162.00 and a 200 day moving average of $142.59. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last posted 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%. On average, research analysts expect that Raymond James will post 11.12 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. Raymond James’s payout ratio is 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.