Smartleaf Asset Management LLC Buys 367 Shares of Raymond James (NYSE:RJF)

Smartleaf Asset Management LLC boosted its stake in shares of Raymond James (NYSE:RJF) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,159 shares of the financial services provider’s stock after purchasing an additional 367 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Raymond James were worth $491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. Metis Global Partners LLC lifted its holdings in shares of Raymond James by 64.2% during the fourth quarter. Metis Global Partners LLC now owns 10,041 shares of the financial services provider’s stock worth $1,560,000 after buying an additional 3,926 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Raymond James by 10.9% during the fourth quarter. US Bancorp DE now owns 80,883 shares of the financial services provider’s stock worth $12,564,000 after buying an additional 7,936 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Raymond James by 11.2% during the fourth quarter. Fisher Asset Management LLC now owns 498,925 shares of the financial services provider’s stock worth $77,498,000 after buying an additional 50,449 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Raymond James during the fourth quarter worth $254,000. Finally, Dynasty Wealth Management LLC lifted its holdings in shares of Raymond James by 9.0% during the fourth quarter. Dynasty Wealth Management LLC now owns 1,923 shares of the financial services provider’s stock worth $299,000 after buying an additional 158 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s 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 sale, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on RJF shares. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. boosted their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Bank of America boosted their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company boosted their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Nine research 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.com, the company presently has a consensus rating of “Hold” and an average price target of $166.09.

Raymond James Stock Performance

NYSE:RJF opened at $150.37 on Tuesday. The stock has a market cap of $30.81 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average is $160.86 and its 200-day moving average is $147.26. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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 anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.33%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is presently 19.51%.

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.