Cavalier Investments LLC Increases Stock Holdings in Raymond James (NYSE:RJF)

Cavalier Investments LLC lifted its position in Raymond James (NYSE:RJF) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 8,151 shares of the financial services provider’s stock after buying an additional 336 shares during the period. Cavalier Investments LLC’s holdings in Raymond James were worth $1,266,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd grew its holdings 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 valued at $36,000 after purchasing an additional 127 shares during the period. Gladius Capital Management LP purchased a new stake in shares of Raymond James in the third quarter valued at about $34,000. Peterson Financial Group Inc. purchased a new stake in shares of Raymond James in the third quarter valued at about $37,000. Quarry LP grew its holdings 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 valued at $51,000 after purchasing an additional 187 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Raymond James in the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RJF. Wells Fargo & Company upped their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” 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. Keefe, Bruyette & Woods upped their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $166.09.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % 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, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were 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 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 corporate insiders.

Raymond James Stock Down 0.5 %

Shares of RJF opened at $150.96 on Wednesday. The stock has a market capitalization of $30.93 billion, a PE ratio of 14.73, a P/E/G ratio of 0.90 and a beta of 1.03. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The company’s 50-day simple moving average is $160.99 and its 200-day simple moving average is $146.16.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.32%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Raymond James 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.