Apollon Wealth Management LLC Raises Stock Holdings in Raymond James (NYSE:RJF)

Apollon Wealth Management LLC lifted its holdings in Raymond James (NYSE:RJF) by 62.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,653 shares of the financial services provider’s stock after purchasing an additional 4,472 shares during the quarter. Apollon Wealth Management LLC’s holdings in Raymond James were worth $1,299,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its holdings in shares of Raymond James by 18.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 43,235 shares of the financial services provider’s stock worth $4,342,000 after buying an additional 6,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Raymond James by 2.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,135 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 160 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Raymond James by 5.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,222 shares of the financial services provider’s stock valued at $7,153,000 after purchasing an additional 3,989 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Raymond James by 3.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 41,493 shares of the financial services provider’s stock valued at $4,167,000 after purchasing an additional 1,507 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Raymond James by 2.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,064 shares of the financial services provider’s stock worth $2,818,000 after purchasing an additional 661 shares during the period. Institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RJF. Citigroup increased their price target on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. UBS Group lowered their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Keefe, Bruyette & Woods cut their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Bank of America decreased their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $126.22.

Raymond James Stock Up 0.1 %

Shares of NYSE:RJF opened at $125.39 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $124.00 and its 200 day moving average is $113.97. The stock has a market cap of $26.21 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 0.85 and a beta of 1.03. Raymond James has a 52-week low of $84.06 and a 52-week high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $2.03 EPS. Raymond James’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

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

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 shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James E. Bunn sold 11,095 shares of the business’s 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 transaction, 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. Insiders own 9.74% of the company’s stock.

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.