NewEdge Wealth LLC Takes $265,000 Position in Raymond James (NYSE:RJF)

NewEdge Wealth LLC bought a new position in Raymond James (NYSE:RJF) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,375 shares of the financial services provider’s stock, valued at approximately $265,000.

A number of other hedge funds have also modified their holdings of RJF. Vanguard Group Inc. boosted its position in shares of Raymond James by 1.9% in the first quarter. Vanguard Group Inc. now owns 21,689,564 shares of the financial services provider’s stock worth $2,383,900,000 after buying an additional 410,025 shares during the period. Wellington Management Group LLP boosted its position in Raymond James by 2.2% during the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after purchasing an additional 246,349 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock valued at $641,330,000 after purchasing an additional 1,448,047 shares during the last quarter. Geode Capital Management LLC boosted its position in Raymond James by 1.9% during the first quarter. Geode Capital Management LLC now owns 4,018,058 shares of the financial services provider’s stock valued at $373,915,000 after purchasing an additional 76,385 shares during the last quarter. Finally, Morgan Stanley boosted its position in Raymond James by 35.1% during the fourth quarter. Morgan Stanley now owns 2,278,272 shares of the financial services provider’s stock valued at $243,433,000 after purchasing an additional 591,327 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RJF has been the topic of several recent research reports. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Morgan Stanley lifted their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. UBS Group dropped their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $117.00 price objective (up from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Raymond James presently has an average rating of “Hold” and a consensus target price of $123.88.

Insider Activity

In related news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Art A. Garcia acquired 879 shares of the company’s 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 purchase, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by company insiders.

Raymond James Stock Up 0.0 %

NYSE RJF opened at $121.96 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $122.16 and its two-hundred day moving average is $111.40. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.86 and a beta of 1.05. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $2.29 EPS. Raymond James’s revenue was up 8.0% compared to the same quarter last year. Equities analysts forecast that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is 22.56%.

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.