Proficio Capital Partners LLC Purchases New Holdings in Raymond James (NYSE:RJF)

Proficio Capital Partners LLC acquired a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 137,344 shares of the financial services provider’s stock, valued at approximately $21,334,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd raised its stake in shares of Raymond James by 121.0% during 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. Gladius Capital Management LP acquired a new position in Raymond James in the 3rd quarter valued at $34,000. Peterson Financial Group Inc. purchased a new position in Raymond James during the 3rd quarter worth $37,000. Quarry LP lifted its stake in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring 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. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were 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. The trade was a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,451 shares of company stock valued at $10,531,255 over the last quarter. Insiders own 0.54% of the company’s stock.

Raymond James Price Performance

Shares of NYSE RJF opened at $154.61 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $160.97 and its 200 day moving average price is $146.79. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The stock has a market cap of $31.68 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS 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%. As a group, research analysts forecast 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 given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. Raymond James’s dividend payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RJF. Citigroup increased their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company increased their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Bank of America lifted their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JMP Securities increased their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Finally, UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $166.09.

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.