SVB Wealth LLC Purchases New Position in Raymond James (NYSE:RJF)

SVB Wealth LLC acquired a new position in Raymond James (NYSE:RJF) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,638 shares of the financial services provider’s stock, valued at approximately $254,000.

A number of other hedge funds have also bought and sold shares of RJF. Dynasty Wealth Management LLC boosted its holdings in shares of Raymond James by 9.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 1,923 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 158 shares during the period. Private Trust Co. NA grew its holdings in Raymond James by 23.9% during the 4th quarter. Private Trust Co. NA now owns 487 shares of the financial services provider’s stock valued at $76,000 after buying an additional 94 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Raymond James by 2.4% during the 4th quarter. QRG Capital Management Inc. now owns 12,513 shares of the financial services provider’s stock valued at $1,944,000 after buying an additional 290 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Raymond James during the fourth quarter valued at about $21,334,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Raymond James by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 77,700 shares of the financial services provider’s stock valued at $12,069,000 after acquiring an additional 1,300 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Raymond James Stock Performance

NYSE RJF opened at $145.98 on Thursday. The company has a 50-day simple moving average of $160.37 and a two-hundred day simple moving average of $147.45. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The firm has a market cap of $29.91 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last issued its earnings results 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 return on equity of 19.71% and a net margin of 14.06%. On average, equities analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.37%. Raymond James’s payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RJF. Wells Fargo & Company raised their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and raised their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Citigroup boosted their price objective on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine equities research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $167.55.

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.