Dock Street Asset Management Inc. increased its position in Raymond James Financial, Inc. (NYSE:RJF) by 116.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,500 shares of the financial services provider’s stock after purchasing an additional 3,500 shares during the quarter. Dock Street Asset Management Inc.’s holdings in Raymond James Financial were worth $580,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Arthur M. Cohen & Associates LLC acquired a new position in Raymond James Financial in the 4th quarter valued at about $221,000. Advisor Partners LLC acquired a new position in Raymond James Financial in the 4th quarter valued at about $218,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Raymond James Financial in the 4th quarter valued at about $555,000. Eqis Capital Management Inc. grew its stake in Raymond James Financial by 4.0% in the 4th quarter. Eqis Capital Management Inc. now owns 16,781 shares of the financial services provider’s stock valued at $1,499,000 after buying an additional 646 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Raymond James Financial by 1.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 119,450 shares of the financial services provider’s stock valued at $10,666,000 after buying an additional 1,385 shares during the last quarter. 69.08% of the stock is currently owned by institutional investors.
In other news, Chairman Thomas A. James sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $85.98, for a total transaction of $17,196,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn sold 8,997 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $85.17, for a total transaction of $766,274.49. Following the sale, the insider now directly owns 22,178 shares of the company’s stock, valued at approximately $1,888,900.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,479 shares of company stock worth $28,161,533. Company insiders own 10.46% of the company’s stock.
Raymond James Financial, Inc. (RJF) opened at $89.01 on Tuesday. Raymond James Financial, Inc. has a 52-week low of $71.35 and a 52-week high of $99.10. The stock has a market cap of $12,950.00, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 0.74 and a beta of 1.63. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53.
Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.19. Raymond James Financial had a net margin of 9.00% and a return on equity of 14.87%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was up 15.6% compared to the same quarter last year. sell-side analysts expect that Raymond James Financial, Inc. will post 6.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, January 2nd. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. Raymond James Financial’s dividend payout ratio is presently 24.27%.
RJF has been the topic of a number of research reports. Buckingham Research upped their price target on shares of Raymond James Financial from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Credit Suisse Group reiterated an “underperform” rating and issued a $95.00 price target (up previously from $82.00) on shares of Raymond James Financial in a research note on Tuesday, January 16th. Wells Fargo & Co reiterated an “outperform” rating and issued a $110.00 price target (up previously from $94.00) on shares of Raymond James Financial in a research note on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $102.00 price target on shares of Raymond James Financial in a research note on Thursday, January 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $99.29.
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About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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