Duality Advisers LP Makes New Investment in Raymond James (NYSE:RJF)

Duality Advisers LP bought a new position in shares of Raymond James (NYSE:RJF) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,927 shares of the financial services provider’s stock, valued at approximately $326,000.

Several other large investors also recently modified their holdings of the stock. Handelsbanken Fonder AB increased its stake in shares of Raymond James by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 44,316 shares of the financial services provider’s stock worth $4,941,000 after purchasing an additional 1,549 shares during the last quarter. CWM LLC increased its stake in shares of Raymond James by 4.2% during the 4th quarter. CWM LLC now owns 12,852 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 520 shares during the last quarter. Signaturefd LLC increased its stake in shares of Raymond James by 13.8% during the 4th quarter. Signaturefd LLC now owns 8,293 shares of the financial services provider’s stock worth $925,000 after purchasing an additional 1,004 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Raymond James by 24.9% during the 4th quarter. Lindbrook Capital LLC now owns 1,135 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 226 shares during the last quarter. Finally, abrdn plc increased its stake in shares of Raymond James by 66.2% during the 4th quarter. abrdn plc now owns 81,266 shares of the financial services provider’s stock worth $9,061,000 after purchasing an additional 32,374 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 0.1 %

RJF opened at $121.86 on Friday. The company has a fifty day moving average price of $123.10 and a 200-day moving average price of $112.50. The firm has a market capitalization of $25.47 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.85 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. Raymond James has a one year low of $82.00 and a one year high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 earnings per share. Equities research analysts expect that Raymond James will post 9.45 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 21.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RJF shares. JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. UBS Group reduced their price objective on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Bank of America reduced their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.22.

Insider Transactions at Raymond James

In other news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

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.