Horizon Advisory Services Inc. Buys Shares of 2,237 Raymond James (NYSE:RJF)

Horizon Advisory Services Inc. acquired a new position in Raymond James (NYSE:RJF) during the 4th quarter, HoldingsChannel reports. The fund acquired 2,237 shares of the financial services provider’s stock, valued at approximately $347,000. Raymond James accounts for about 0.2% of Horizon Advisory Services Inc.’s investment portfolio, making the stock its 19th largest holding.

Other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in shares of Raymond James in the third quarter worth $34,000. Y.D. More Investments Ltd grew its stake in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Raymond James in the third quarter worth $37,000. Quarry LP grew its stake in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of Raymond James in the fourth quarter worth $68,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of NYSE RJF opened at $151.61 on Tuesday. The firm’s 50-day moving average price is $161.13 and its 200-day moving average price is $145.88. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The firm has a market capitalization of $31.07 billion, a P/E ratio of 14.79, a P/E/G 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.

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

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date 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 currently 19.51%.

Analyst Ratings Changes

Several analysts recently weighed in on RJF shares. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup boosted their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. JMP Securities boosted their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group upgraded 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 research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average price target of $166.09.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last three months. Corporate insiders own 0.54% of the company’s stock.

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.