Eagle Wealth Strategies LLC Acquires New Position in Raymond James (NYSE:RJF)

Eagle Wealth Strategies LLC purchased a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, Holdings Channel reports. The fund purchased 2,022 shares of the financial services provider’s stock, valued at approximately $225,000.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Raymond James by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after purchasing an additional 246,349 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Raymond James by 4.8% during the 3rd quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after purchasing an additional 98,664 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Raymond James by 2.5% during the 3rd quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock valued at $209,155,000 after purchasing an additional 51,239 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Raymond James by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,368,766 shares of the financial services provider’s stock valued at $137,465,000 after purchasing an additional 15,227 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in shares of Raymond James by 8.6% during the 3rd quarter. Ceredex Value Advisors LLC now owns 768,046 shares of the financial services provider’s stock valued at $77,455,000 after purchasing an additional 60,728 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Trading Up 0.5 %

Shares of RJF stock opened at $122.47 on Monday. The company’s 50-day moving average price is $123.10 and its 200-day moving average price is $112.67. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The stock has a market cap of $25.60 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.85 and a beta of 1.05. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 EPS. As a group, equities analysts predict that Raymond James will post 9.37 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.47%. Raymond James’s payout ratio is 21.77%.

Insider Activity at Raymond James

In related news, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the acquisition, the director now owns 879 shares in the company, valued at $98,711.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.74% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RJF shares. Citigroup lifted their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. TD Cowen lowered their target price on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. Finally, UBS Group lowered their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average target price of $126.22.

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.