Raymond James (NYSE:RJF) is New England Professional Planning Group Inc.’s 5th Largest Position

New England Professional Planning Group Inc. grew its holdings in shares of Raymond James (NYSE:RJF) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,606 shares of the financial services provider’s stock after purchasing an additional 1,648 shares during the quarter. Raymond James makes up 3.5% of New England Professional Planning Group Inc.’s investment portfolio, making the stock its 5th largest holding. New England Professional Planning Group Inc.’s holdings in Raymond James were worth $6,929,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Wealthspire Advisors LLC increased its position in shares of Raymond James by 4.1% during the 4th quarter. Wealthspire Advisors LLC now owns 6,812 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 266 shares during the last quarter. Kooman & Associates purchased a new stake in Raymond James in the 4th quarter worth about $222,000. Winebrenner Capital Management LLC purchased a new stake in Raymond James in the 4th quarter worth about $237,000. ING Groep NV purchased a new stake in Raymond James in the 4th quarter worth about $1,284,000. Finally, Handelsbanken Fonder AB increased its holdings in Raymond James by 17.0% in the 4th quarter. Handelsbanken Fonder AB now owns 69,761 shares of the financial services provider’s stock worth $10,836,000 after acquiring an additional 10,141 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RJF shares. JPMorgan Chase & Co. lifted their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. TD Cowen lifted their price objective on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America lifted their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and an average price target of $166.09.

Insider Activity

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

Raymond James Stock Performance

Raymond James stock opened at $151.34 on Friday. The firm’s fifty day moving average price is $161.30 and its 200-day moving average price is $145.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The stock has a market cap of $31.01 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, equities research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. 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.