Raymond James (NYSE:RJF) Shares Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lifted its position in shares of Raymond James (NYSE:RJF) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,832 shares of the financial services provider’s stock after purchasing an additional 172 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Raymond James were worth $440,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Raymond James by 91.9% in the second quarter. AQR Capital Management LLC now owns 168,653 shares of the financial services provider’s stock valued at $20,609,000 after buying an additional 80,782 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Raymond James by 20.3% during the 2nd quarter. Mackenzie Financial Corp now owns 23,581 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 3,983 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Raymond James in the 2nd quarter valued at about $244,000. Creative Planning raised its holdings in Raymond James by 2.2% in the 2nd quarter. Creative Planning now owns 37,781 shares of the financial services provider’s stock worth $4,670,000 after purchasing an additional 797 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Raymond James by 15.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,965 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 404 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 in the last three months. 0.54% of the stock is currently owned by insiders.

Raymond James Price Performance

RJF stock opened at $171.36 on Wednesday. Raymond James has a 1 year low of $104.24 and a 1 year high of $173.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market capitalization of $35.02 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The business has a 50 day simple moving average of $161.96 and a 200-day simple moving average of $139.17.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Citigroup upped their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Morgan Stanley upped their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $156.09.

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.