UMB Bank n.a. Boosts Position in Raymond James (NYSE:RJF)

UMB Bank n.a. grew its stake in Raymond James (NYSE:RJF) by 7,238.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,353 shares of the financial services provider’s stock after buying an additional 44,735 shares during the quarter. UMB Bank n.a.’s holdings in Raymond James were worth $7,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. increased its position in Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after buying an additional 9,217 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after buying an additional 7,028 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Raymond James in the third quarter worth about $3,561,000. XTX Topco Ltd increased its position in Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 6,649 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Raymond James by 109.3% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after buying an additional 58,200 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares in the company, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The shares were 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. This represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last ninety days. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on RJF shares. Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company dropped their price objective on Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. TD Cowen upped their price objective on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $166.00 price objective (up previously from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. Nine research 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 stock. According to data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average target price of $156.09.

Raymond James Price Performance

NYSE:RJF opened at $167.00 on Monday. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.89 and a beta of 1.02. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The business has a 50 day simple moving average of $160.77 and a 200-day simple moving average of $136.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $2.13 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts forecast that Raymond James will post 10.99 EPS for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

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.