Russell Investments Group Ltd. Has $17.30 Million Holdings in Raymond James (NYSE:RJF)

Russell Investments Group Ltd. increased its holdings in shares of Raymond James (NYSE:RJF) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,864 shares of the financial services provider’s stock after acquiring an additional 3,257 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of Raymond James worth $17,296,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James in the 4th quarter valued at approximately $30,000. Addison Advisors LLC lifted its stake in shares of Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 103 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Raymond James during the 4th quarter valued at $50,000. Headlands Technologies LLC boosted its holdings in shares of Raymond James by 139.8% during the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Raymond James by 52.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF opened at $124.42 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 firm’s fifty day simple moving average is $123.53 and its two-hundred day simple moving average is $113.15. Raymond James has a 12 month low of $82.00 and a 12 month high of $131.19. The stock has a market capitalization of $26.01 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 0.84 and a beta of 1.03.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 EPS. As a group, analysts predict that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.45%. Raymond James’s dividend payout ratio is currently 21.77%.

Insider Activity

In related news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now owns 879 shares in the company, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on RJF. Keefe, Bruyette & Woods dropped their target price on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Bank of America reduced their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. UBS Group dropped 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 note on Thursday, January 25th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Morgan Stanley raised their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average price target of $126.22.

Raymond James 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.