Peterson Wealth Services Has $10.21 Million Position in Raymond James (NYSE:RJF)

Peterson Wealth Services trimmed its position in Raymond James (NYSE:RJF) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,741 shares of the financial services provider’s stock after selling 231 shares during the quarter. Raymond James makes up approximately 3.1% of Peterson Wealth Services’ portfolio, making the stock its 9th largest position. Peterson Wealth Services’ holdings in Raymond James were worth $10,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after buying an additional 9,217 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Raymond James in the third quarter worth about $3,561,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after buying an additional 7,028 shares during the period. UMB Bank n.a. boosted its holdings in shares of Raymond James by 7,238.7% in the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after buying an additional 44,735 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Raymond James by 7.5% in the third quarter. Principal Financial Group Inc. now owns 626,866 shares of the financial services provider’s stock worth $76,770,000 after buying an additional 43,601 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Price Performance

NYSE RJF opened at $162.32 on Tuesday. 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 capitalization of $33.17 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The company has a 50 day moving average price of $162.00 and a two-hundred day moving average price of $142.59. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, equities analysts predict that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. Raymond James’s payout ratio is 19.51%.

Insider Buying and Selling at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was 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 of the company’s stock, valued at $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 over the last ninety days. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RJF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price target on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $166.09.

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.