Addison Advisors LLC Grows Position in Raymond James (NYSE:RJF)

Addison Advisors LLC boosted its stake in shares of Raymond James (NYSE:RJF) by 32.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 552 shares of the financial services provider’s stock after buying an additional 136 shares during the quarter. Addison Advisors LLC’s holdings in Raymond James were worth $62,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Gilliland Jeter Wealth Management LLC purchased a new position in Raymond James during the fourth quarter valued at $674,000. Headlands Technologies LLC lifted its position in Raymond James by 52.3% during the fourth quarter. Headlands Technologies LLC now owns 789 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 271 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Raymond James by 7.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,380 shares of the financial services provider’s stock valued at $600,000 after purchasing an additional 357 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in Raymond James by 11.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,900 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 302 shares in the last quarter. Finally, Cumberland Partners Ltd purchased a new position in Raymond James during the fourth quarter valued at $714,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RJF has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. Citigroup boosted their price objective on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Jefferies Financial Group restated a “hold” rating and issued a $117.00 price objective (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. The Goldman Sachs Group restated a “neutral” rating and issued a $116.00 price objective (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Finally, StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $126.22.

Raymond James Price Performance

Shares of RJF stock traded down $0.09 during trading hours on Friday, hitting $121.86. The stock had a trading volume of 1,197,930 shares, compared to its average volume of 1,139,872. Raymond James has a one year low of $82.00 and a one year high of $131.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The stock’s 50-day moving average price is $123.10 and its two-hundred day moving average price is $112.59. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.85 and a beta of 1.05.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $2.03 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts forecast that Raymond James will post 9.37 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.48%. Raymond James’s payout ratio is currently 21.77%.

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.