Moran Wealth Management LLC Invests $5.09 Million in Raymond James (NYSE:RJF)

Moran Wealth Management LLC purchased a new position in shares of Raymond James (NYSE:RJF) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 32,779 shares of the financial services provider’s stock, valued at approximately $5,092,000.

A number of other hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Raymond James by 3.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,326 shares of the financial services provider’s stock worth $10,147,000 after purchasing an additional 2,424 shares during the period. Simplicity Wealth LLC raised its position in Raymond James by 14.6% in the 4th quarter. Simplicity Wealth LLC now owns 2,151 shares of the financial services provider’s stock valued at $334,000 after buying an additional 274 shares during the last quarter. Taika Capital LP acquired a new stake in Raymond James in the 4th quarter valued at approximately $360,000. Oak Harbor Wealth Partners LLC acquired a new stake in Raymond James in the 4th quarter valued at approximately $222,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new stake in Raymond James in the 4th quarter valued at approximately $224,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Down 4.1 %

NYSE:RJF opened at $137.53 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The stock’s 50 day moving average price is $159.44 and its two-hundred day moving average price is $148.21. The firm has a market capitalization of $28.18 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. Raymond James’s dividend payout ratio is currently 19.51%.

Insider Transactions at Raymond James

In other news, 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 transaction of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RJF shares. Keefe, Bruyette & Woods lifted their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. JMP Securities lifted their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their target price on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and lifted their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, Citigroup lifted their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $167.55.

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.