NorthCrest Asset Manangement LLC Takes $636,000 Position in Raymond James (NYSE:RJF)

NorthCrest Asset Manangement LLC acquired a new position in Raymond James (NYSE:RJFGet Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,330 shares of the financial services provider’s stock, valued at approximately $636,000.

A number of other hedge funds also recently bought and sold shares of the stock. Keybank National Association OH raised its position in Raymond James by 1.1% in the 4th quarter. Keybank National Association OH now owns 8,641 shares of the financial services provider’s stock worth $868,000 after purchasing an additional 96 shares during the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Raymond James by 5.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 2,530 shares of the financial services provider’s stock valued at $254,000 after buying an additional 127 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Raymond James by 3.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,284 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 128 shares during the period. CX Institutional boosted its stake in Raymond James by 51.4% in the 3rd quarter. CX Institutional now owns 389 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 132 shares during the period. Finally, Vestmark Advisory Solutions Inc. lifted its position in Raymond James by 6.2% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,553 shares of the financial services provider’s stock worth $256,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 76.98% of the company’s stock.

Shares of RJF stock opened at $103.23 on Thursday. The stock has a market capitalization of $21.43 billion, a P/E ratio of 14.55 and a beta of 1.09. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $105.36 and its 200 day moving average is $103.61. Raymond James has a 12 month low of $81.96 and a 12 month high of $117.37.

Raymond James (NYSE:RJFGet Rating) last posted its earnings results on Wednesday, April 27th. The financial services provider reported $1.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.09). The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.67 billion. Raymond James had a return on equity of 19.36% and a net margin of 13.97%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. On average, equities analysts predict that Raymond James will post 7.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 4th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, April 1st. Raymond James’s dividend payout ratio is currently 19.17%.

In related news, EVP Bella Loykhter Allaire sold 15,000 shares of Raymond James stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $114.78, for a total transaction of $1,721,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey A. Dowdle sold 18,972 shares of Raymond James stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $112.73, for a total transaction of $2,138,713.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,972 shares of company stock worth $4,461,674. 10.25% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a report on Wednesday, March 30th. Seaport Res Ptn upgraded shares of Raymond James from a “neutral” rating to a “buy” rating in a research report on Friday, January 28th. JMP Securities lowered shares of Raymond James from an “outperform” rating to a “market perform” rating in a research report on Monday, January 10th. StockNews.com assumed coverage on shares of Raymond James in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Citigroup cut their target price on shares of Raymond James from $205.00 to $195.00 in a research report on Friday, April 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $129.62.

Raymond James Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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