Gilliland Jeter Wealth Management LLC Buys New Shares in Raymond James (NYSE:RJF)

Gilliland Jeter Wealth Management LLC bought a new stake in Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,047 shares of the financial services provider’s stock, valued at approximately $674,000.

Several other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares during the period. Earnest Partners LLC boosted its holdings in Raymond James by 4.8% in the third quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after purchasing an additional 98,664 shares during the last quarter. Northern Trust Corp boosted its holdings in Raymond James by 2.5% in the third quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock valued at $209,155,000 after purchasing an additional 51,239 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Raymond James by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 1,368,766 shares of the financial services provider’s stock valued at $137,465,000 after purchasing an additional 15,227 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its holdings in Raymond James by 8.6% in the third quarter. Ceredex Value Advisors LLC now owns 768,046 shares of the financial services provider’s stock valued at $77,455,000 after purchasing an additional 60,728 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Cowen lowered their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $116.00 price target (down from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods lowered their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday. Citigroup upped their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Raymond James presently has an average rating of “Hold” and a consensus target price of $126.22.

Raymond James Price Performance

Raymond James stock traded down $0.09 during midday trading on Friday, reaching $121.86. The company had a trading volume of 1,197,930 shares, compared to its average volume of 1,139,872. The company has a market capitalization of $25.47 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.85 and a beta of 1.05. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The firm’s fifty day simple moving average is $123.10 and its 200-day simple moving average is $112.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. As a group, equities analysts anticipate that Raymond James will post 9.37 EPS for the current year.

Raymond James Announces Dividend

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

Insider Activity at Raymond James

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

Raymond James 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.