Wetzel Investment Advisors Inc. Invests $672,000 in Raymond James (NYSE:RJF)

Wetzel Investment Advisors Inc. purchased a new position in Raymond James (NYSE:RJF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,029 shares of the financial services provider’s stock, valued at approximately $672,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steph & Co. increased its stake in Raymond James by 9.3% during the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 91 shares in the last quarter. Federated Hermes Inc. grew its position in Raymond James by 12.4% during the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock valued at $97,000 after buying an additional 96 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Raymond James by 3.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,419 shares of the financial services provider’s stock valued at $365,000 after buying an additional 100 shares during the period. Addison Advisors LLC grew its position in Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after buying an additional 103 shares during the period. Finally, SVB Wealth LLC grew its position in Raymond James by 5.6% during the third quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock valued at $206,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of RJF stock traded up $1.64 during trading hours on Friday, reaching $123.60. The stock had a trading volume of 3,031,427 shares, compared to its average volume of 1,052,742. The stock’s fifty day simple moving average is $122.34 and its 200 day simple moving average is $111.58. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. Raymond James has a 12 month low of $82.00 and a 12 month high of $131.19. The firm has a market capitalization of $25.84 billion, a PE ratio of 15.49, a PEG ratio of 0.86 and a beta of 1.05.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business earned $2.29 earnings per share. Raymond James’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Raymond James will post 9.36 EPS for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 22.56%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. UBS Group cut their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. TD Cowen increased their target price on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Citigroup increased their target price on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and a consensus price target of $123.88.

Insider Activity at Raymond James

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the transaction, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Art A. Garcia bought 879 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the acquisition, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by insiders.

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.