Donoghue Forlines LLC Invests $2.06 Million in Raymond James (NYSE:RJF)

Donoghue Forlines LLC bought a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,228 shares of the financial services provider’s stock, valued at approximately $2,055,000. Raymond James makes up 0.7% of Donoghue Forlines LLC’s investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Wolff Wiese Magana LLC boosted its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP acquired a new position in Raymond James during the second quarter worth $29,000. Future Financial Wealth Managment LLC bought a new position in Raymond James in the third quarter valued at $32,000. Gladius Capital Management LP acquired a new stake in Raymond James in the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. bought a new stake in Raymond James during the 3rd quarter worth about $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is currently owned by company insiders.

Raymond James Stock Up 1.3 %

RJF stock opened at $171.83 on Thursday. The stock has a market capitalization of $35.11 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.03 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $161.20 and a 200-day moving average price of $137.59. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the business posted $2.13 EPS. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities research analysts anticipate that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.16%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s payout ratio is presently 20.60%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RJF. Wells Fargo & Company lowered their target price on shares of Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group boosted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Citigroup upped their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $156.09.

Raymond James Company Profile

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.