Fifth Third Wealth Advisors LLC Buys 143 Shares of Raymond James (NYSE:RJF)

Fifth Third Wealth Advisors LLC raised its stake in shares of Raymond James (NYSE:RJF) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,329 shares of the financial services provider’s stock after purchasing an additional 143 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Raymond James were worth $517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of RJF. Wolff Wiese Magana LLC lifted its holdings in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Quarry LP purchased a new stake in Raymond James during the second quarter valued at about $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the third quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Raymond James in the 3rd quarter worth about $34,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Raymond James during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 2.2 %

NYSE RJF opened at $164.89 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38. The stock has a market cap of $33.70 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.02. The stock has a 50 day simple moving average of $160.43 and a two-hundred day simple moving average of $135.96.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the firm posted $2.13 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. On average, analysts forecast that Raymond James will post 10.99 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 20.60%.

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 over the last three months. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RJF shares. JMP Securities boosted their target price on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price objective on Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $156.09.

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.