Raymond James (NYSE:RJF) is Peterson Wealth Services’ 9th Largest Position

Peterson Wealth Services cut its position in Raymond James (NYSE:RJF) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,741 shares of the financial services provider’s stock after selling 231 shares during the quarter. Raymond James accounts for 3.1% of Peterson Wealth Services’ portfolio, making the stock its 9th largest position. Peterson Wealth Services’ holdings in Raymond James were worth $10,212,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. boosted its stake in Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 64 shares during the last quarter. CX Institutional boosted its stake in Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 66 shares during the last quarter. Stablepoint Partners LLC boosted its stake in Raymond James by 0.5% during the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after acquiring an additional 73 shares during the last quarter. Metis Global Partners LLC boosted its stake in Raymond James by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after acquiring an additional 82 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in Raymond James by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 86 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the transaction, the insider now owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Raymond James Stock Down 3.1 %

RJF stock opened at $162.32 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The firm’s 50-day simple moving average is $162.00 and its 200 day simple moving average is $142.59. The stock has a market cap of $33.17 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, sell-side analysts predict that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JMP Securities increased their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Finally, Citigroup increased their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average price target of $166.09.

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.