Donoghue Forlines LLC Invests $2.06 Million in Raymond James (NYSE:RJF)

Donoghue Forlines LLC acquired a new stake in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,228 shares of the financial services provider’s stock, valued at approximately $2,055,000. Raymond James makes up 0.7% of Donoghue Forlines LLC’s portfolio, making the stock its 25th largest position.

Other large investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the period. Quarry LP purchased a new position in Raymond James in the second quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new stake in shares of Raymond James during the 3rd quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Raymond James in the 3rd quarter worth approximately $37,000. 83.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. TD Cowen boosted their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $166.00 target price (up previously from $151.00) on shares of Raymond James in a research note on Tuesday, January 7th. Citigroup upped their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the company from $161.00 to $185.00 in a report on Monday, January 6th. Nine investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $156.09.

Insider Activity at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 over the last 90 days. 0.54% of the stock is owned by insiders.

Raymond James Stock Performance

NYSE:RJF opened at $171.83 on Thursday. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a market cap of $35.11 billion, a P/E ratio of 17.63, a PEG ratio of 1.03 and a beta of 1.02. The business’s 50-day moving average price is $161.20 and its two-hundred day moving average price is $137.59.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.13 earnings per share. As a group, equities analysts predict that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.16%. Raymond James’s payout ratio is 20.60%.

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.