Longboard Asset Management LP Makes New Investment in Raymond James (NYSE:RJF)

Longboard Asset Management LP acquired a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,576 shares of the financial services provider’s stock, valued at approximately $245,000. Raymond James makes up approximately 0.6% of Longboard Asset Management LP’s holdings, making the stock its 26th biggest position.

A number of other hedge funds also recently made changes to their positions in the stock. Wolff Wiese Magana LLC increased its stake in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP purchased a new position in shares of Raymond James in the 2nd quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James in the 3rd quarter worth about $32,000. Gladius Capital Management LP bought a new position in shares of Raymond James during the 3rd quarter valued at about $34,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Raymond James during the 3rd quarter valued at about $37,000. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Down 1.5 %

RJF opened at $165.99 on Tuesday. Raymond James has a one year low of $104.24 and a one year high of $174.32. 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 business has a 50 day simple moving average of $162.33 and a two-hundred day simple moving average of $140.70. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Analysts predict that Raymond James will post 11.16 EPS for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.20%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RJF shares. StockNews.com raised Raymond James from a “hold” rating to a “buy” rating in a research note on Friday. JMP Securities upped their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Morgan Stanley lifted their target price 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. TD Cowen upped their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $166.09.

Insider Buying and Selling at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now 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. In the last three months, insiders have sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is currently owned by corporate insiders.

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.