Hantz Financial Services Inc. Lowers Stock Position in Raymond James (NYSE:RJF)

Hantz Financial Services Inc. trimmed its stake in Raymond James (NYSE:RJF) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 85,721 shares of the financial services provider’s stock after selling 1,796 shares during the period. Hantz Financial Services Inc.’s holdings in Raymond James were worth $13,315,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. grew its position in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Ceredex Value Advisors LLC increased its stake in Raymond James by 191.3% during the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares during the period. Two Sigma Advisers LP purchased a new stake in Raymond James during the third quarter worth about $34,105,000. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Raymond James during the third quarter worth about $28,985,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RJF. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley upped their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $166.00 target price (up from $151.00) on shares of Raymond James in a report on Tuesday, January 7th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their price objective on Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $156.09.

Raymond James Price Performance

RJF stock opened at $171.36 on Wednesday. The business has a 50 day moving average price of $161.96 and a 200 day moving average price of $139.17. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a market cap of $35.02 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.04 and a beta of 1.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $173.15.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Raymond James’s dividend payout ratio is presently 20.60%.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 in the last ninety days. Insiders own 0.54% 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.