Simplicity Wealth LLC Purchases 274 Shares of Raymond James (NYSE:RJF)

Simplicity Wealth LLC grew its position in Raymond James (NYSE:RJF) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,151 shares of the financial services provider’s stock after purchasing an additional 274 shares during the period. Simplicity Wealth LLC’s holdings in Raymond James were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RJF. Wellington Management Group LLP lifted its holdings in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Raymond James in the fourth quarter valued at about $105,701,000. JPMorgan Chase & Co. increased its position in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Raymond James by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock valued at $88,144,000 after acquiring an additional 461,069 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Raymond James in the third quarter valued at about $34,105,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Price Performance

Shares of NYSE RJF opened at $137.53 on Tuesday. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The business’s 50 day moving average price is $159.44 and its two-hundred day moving average price is $148.21. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market cap of $28.18 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, analysts predict 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. Stockholders of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RJF. Keefe, Bruyette & Woods lifted their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Citigroup lifted their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Bank of America lifted their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley lifted their target price on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.55.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by company 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.