Novare Capital Management LLC Has $292,000 Position in Raymond James (NYSE:RJF)

Novare Capital Management LLC lessened its holdings in shares of Raymond James (NYSE:RJF) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,880 shares of the financial services provider’s stock after selling 200 shares during the period. Novare Capital Management LLC’s holdings in Raymond James were worth $292,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Flagship Harbor Advisors LLC raised its position in shares of Raymond James by 6.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,832 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 172 shares during the period. B.O.S.S. Retirement Advisors LLC bought a new stake in Raymond James in the fourth quarter valued at approximately $324,000. CX Institutional raised its holdings in Raymond James by 2.9% in the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 66 shares during the period. Donoghue Forlines LLC bought a new position in shares of Raymond James during the fourth quarter worth $2,055,000. Finally, Market Street Wealth Management Advisors LLC acquired a new position in shares of Raymond James in the 4th quarter valued at $210,000. Institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. TD Cowen increased 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. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Nine research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $156.09.

Raymond James Stock Performance

Shares of NYSE RJF opened at $172.67 on Monday. The stock has a market capitalization of $35.29 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. Raymond James has a 52 week low of $104.24 and a 52 week high of $173.15. The stock has a 50 day moving average price of $161.67 and a 200 day moving average price of $138.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. Raymond James’s dividend payout ratio (DPR) is currently 20.60%.

Raymond James Company 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.