Ieq Capital LLC Grows Holdings in Raymond James (NYSE:RJF)

Ieq Capital LLC lifted its stake in shares of Raymond James (NYSE:RJF) by 57.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,055 shares of the financial services provider’s stock after buying an additional 2,944 shares during the quarter. Ieq Capital LLC’s holdings in Raymond James were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RJF. Bryn Mawr Capital Management LLC acquired a new position in Raymond James during the 4th quarter worth $208,000. Joel Adams & Associates Inc. bought a new stake in Raymond James in the fourth quarter valued at about $378,000. Atria Wealth Solutions Inc. acquired a new stake in Raymond James during the fourth quarter valued at approximately $625,000. Venturi Wealth Management LLC lifted its holdings in Raymond James by 1,966.9% during the 4th quarter. Venturi Wealth Management LLC now owns 3,245 shares of the financial services provider’s stock worth $504,000 after buying an additional 3,088 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Raymond James by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 29,207 shares of the financial services provider’s stock worth $4,537,000 after acquiring an additional 841 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 over the last three months. Company insiders own 0.54% of the company’s stock.

Raymond James Stock Up 0.0 %

Shares of Raymond James stock opened at $151.61 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The business’s fifty day moving average price is $161.13 and its two-hundred day moving average price is $145.88. The company has a market capitalization of $31.07 billion, a P/E ratio of 14.79, a PEG ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, research analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid 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 1.32%. Raymond James’s dividend payout ratio is currently 19.51%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities increased their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. TD Cowen boosted their price objective 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, Citigroup raised their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus target price of $166.09.

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.