Kentucky Trust Co Invests $152,000 in Raymond James (NYSE:RJF)

Kentucky Trust Co acquired a new stake in Raymond James (NYSE:RJF) during the fourth quarter, Holdings Channel.com reports. The fund acquired 980 shares of the financial services provider’s stock, valued at approximately $152,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RJF. Savant Capital LLC increased its position in Raymond James by 18.6% during the 4th quarter. Savant Capital LLC now owns 2,378 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 373 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Raymond James by 3.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,212 shares of the financial services provider’s stock worth $499,000 after buying an additional 119 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Raymond James by 10.4% during the fourth quarter. Empowered Funds LLC now owns 3,828 shares of the financial services provider’s stock worth $593,000 after buying an additional 362 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Raymond James by 2.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,244 shares of the financial services provider’s stock valued at $3,300,000 after acquiring an additional 447 shares during the last quarter. Finally, Choreo LLC boosted its holdings in shares of Raymond James by 40.9% during the 4th quarter. Choreo LLC now owns 4,029 shares of the financial services provider’s stock valued at $626,000 after acquiring an additional 1,170 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. JMP Securities raised their price target on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. TD Cowen lifted their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine investment 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $166.09.

Raymond James Price Performance

Shares of NYSE RJF opened at $162.94 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $161.95 and its 200-day moving average price is $142.92. The firm has a market capitalization of $33.30 billion, a P/E ratio of 15.90, a P/E/G ratio of 0.98 and a beta of 1.03. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings data 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%. Equities research analysts anticipate that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.50 per share. This is a boost 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%. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is currently 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.