Raymond James (NYSE:RJF) Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Raymond James (NYSE:RJF) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,979 shares of the financial services provider’s stock after acquiring an additional 219 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Raymond James were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Everpar Advisors LLC purchased a new position in shares of Raymond James in the fourth quarter valued at $219,000. Charles Schwab Investment Management Inc. grew its stake in shares of Raymond James by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,082,745 shares of the financial services provider’s stock valued at $120,726,000 after acquiring an additional 88,700 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Raymond James by 62.3% during the fourth quarter. Apollon Wealth Management LLC now owns 11,653 shares of the financial services provider’s stock worth $1,299,000 after acquiring an additional 4,472 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Raymond James in the fourth quarter worth about $289,000. Finally, National Bank of Canada FI boosted its holdings in Raymond James by 17.6% in the fourth quarter. National Bank of Canada FI now owns 47,751 shares of the financial services provider’s stock valued at $5,362,000 after purchasing an additional 7,143 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In related news, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the sale, the insider now owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Art A. Garcia acquired 879 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by company insiders.

Raymond James Price Performance

NYSE:RJF traded down $0.39 on Thursday, hitting $125.01. The company had a trading volume of 332,708 shares, compared to its average volume of 1,053,872. The firm has a 50 day moving average of $124.00 and a two-hundred day moving average of $113.97. The stock has a market capitalization of $26.13 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.85 and a beta of 1.03. Raymond James has a 52 week low of $84.06 and a 52 week high of $131.19. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.03 earnings per share. On average, research analysts anticipate that Raymond James will post 9.56 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s payout ratio is currently 21.77%.

Wall Street Analyst Weigh In

RJF has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Bank of America decreased their price target on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Finally, Citigroup raised their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average target price of $126.22.

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.