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

Fifth Third Wealth Advisors LLC increased its position in Raymond James (NYSE:RJF) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,329 shares of the financial services provider’s stock after acquiring 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 SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. State Street Corp raised its holdings in Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after acquiring an additional 54,265 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Geode Capital Management LLC boosted its stake in Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after purchasing an additional 12,869 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after purchasing an additional 37,173 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RJF shares. JMP Securities increased their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Citigroup raised their price target 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. TD Cowen boosted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. 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 research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $156.09.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents 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 hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,621 shares of company stock valued at $10,729,488. Company insiders own 0.54% of the company’s stock.

Raymond James Stock Performance

NYSE:RJF opened at $164.89 on Friday. The stock has a 50-day simple moving average of $160.43 and a two-hundred day simple moving average of $135.96. 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 52-week low of $104.24 and a 52-week high of $171.38. The firm has a market capitalization of $33.70 billion, a PE ratio of 16.98, a P/E/G ratio of 0.89 and a beta of 1.02.

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

Raymond James Increases Dividend

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

Raymond James Company 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.