Horizon Advisory Services Inc. Invests $347,000 in Raymond James (NYSE:RJF)

Horizon Advisory Services Inc. acquired a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,237 shares of the financial services provider’s stock, valued at approximately $347,000. Raymond James comprises 0.2% of Horizon Advisory Services Inc.’s holdings, making the stock its 19th largest position.

A number of other large investors also recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in shares of Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James in the 3rd quarter valued at about $3,561,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after purchasing an additional 7,028 shares during the period. UMB Bank n.a. raised its holdings in shares of Raymond James by 7,238.7% in the 4th quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock valued at $7,045,000 after purchasing an additional 44,735 shares during the period. Finally, Longboard Asset Management LP bought a new stake in shares of Raymond James in the 4th quarter valued at about $245,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Raymond James Stock Performance

Shares of NYSE:RJF opened at $151.61 on Tuesday. The company’s 50 day moving average price is $161.13 and its two-hundred day moving average price is $145.88. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The firm has a market cap of $31.07 billion, a PE ratio of 14.79, a PEG ratio of 0.90 and a beta of 1.03. 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 (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) 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 19.71%. Equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given 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 1.32%. Raymond James’s dividend payout ratio is 19.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RJF. Wells Fargo & Company upped their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. TD Cowen increased their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Bank of America increased their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Nine 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 company. According to MarketBeat, Raymond James currently has an average rating of “Hold” and an average price target of $166.09.

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.