Pine Valley Investments Ltd Liability Co Buys 439 Shares of Raymond James (NYSE:RJF)

Pine Valley Investments Ltd Liability Co raised its stake in shares of Raymond James (NYSE:RJF) by 18.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,788 shares of the financial services provider’s stock after buying an additional 439 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Raymond James were worth $341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RJF. Virtu Financial LLC bought a new stake in Raymond James during the 3rd quarter worth approximately $308,000. Coldstream Capital Management Inc. increased its holdings in shares of Raymond James by 1.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 64 shares during the period. Geode Capital Management LLC raised its position in shares of Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after buying an additional 12,869 shares in the last quarter. M&T Bank Corp raised its position in shares of Raymond James by 0.9% in the third quarter. M&T Bank Corp now owns 13,682 shares of the financial services provider’s stock worth $1,676,000 after buying an additional 125 shares in the last quarter. Finally, Barclays PLC grew its position in Raymond James by 33.5% during the third quarter. Barclays PLC now owns 847,108 shares of the financial services provider’s stock worth $103,738,000 after buying an additional 212,697 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,621 shares of company stock valued at $9,134,788 in the last quarter. Company insiders own 9.74% of the company’s stock.

Raymond James Stock Up 0.1 %

Shares of NYSE:RJF opened at $160.49 on Friday. The stock has a market capitalization of $32.75 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00. The stock’s 50-day moving average price is $152.45 and its 200-day moving average price is $130.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $2.13 EPS. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts anticipate that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s payout ratio is presently 20.60%.

Analyst Upgrades and Downgrades

RJF has been the topic of several recent analyst reports. TD Cowen raised their price target on 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 lifted their target price on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Morgan Stanley increased their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Bank of America lifted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $142.45.

Raymond James Company 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.