Vestmark Advisory Solutions Inc. Invests $259,000 in Raymond James (NYSE:RJF)

Vestmark Advisory Solutions Inc. acquired a new stake in Raymond James (NYSE:RJF) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,319 shares of the financial services provider’s stock, valued at approximately $259,000.

A number of other large investors have also bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Raymond James in the fourth quarter valued at approximately $30,000. Addison Advisors LLC raised its stake in shares of Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 103 shares during the period. CVA Family Office LLC acquired a new stake in shares of Raymond James in the 4th quarter valued at about $50,000. Headlands Technologies LLC lifted its holdings in shares of Raymond James by 139.8% in the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Raymond James by 52.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after buying an additional 192 shares during the period. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Performance

RJF opened at $125.27 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. Raymond James has a 12-month low of $84.06 and a 12-month high of $131.19. The business has a 50 day moving average of $123.90 and a 200-day moving average of $113.89. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.85 and a beta of 1.03.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). The business 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 for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 EPS. On average, equities research analysts expect that Raymond James will post 9.56 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is presently 21.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RJF shares. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $135.00 in a research note on Wednesday, January 10th. Bank of America decreased their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Finally, TD Cowen lowered their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus price target of $126.22.

Insider Activity

In related news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is owned by company 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.