RBA Wealth Management LLC Acquires Shares of 1,567 Raymond James (NYSE:RJF)

RBA Wealth Management LLC acquired a new stake in Raymond James (NYSE:RJF) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,567 shares of the financial services provider’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP bought a new position in shares of Raymond James in the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 3rd quarter valued at $32,000. Gladius Capital Management LP acquired a new position in shares of Raymond James in the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

NYSE RJF opened at $165.99 on Tuesday. The firm has a market cap of $33.92 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $162.33 and its 200-day moving average is $140.70. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Sell-side analysts predict that Raymond James will post 11.16 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. This is a positive change 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 dividend yield of 1.20%. Raymond James’s payout ratio is presently 19.51%.

Insider Buying and Selling at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on RJF. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. JMP Securities increased their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Morgan Stanley upped their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $166.09.

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.