Daiwa Securities Group Inc. Boosts Position in Raymond James (NYSE:RJF)

Daiwa Securities Group Inc. increased its holdings in shares of Raymond James (NYSE:RJF) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,536 shares of the financial services provider’s stock after purchasing an additional 997 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Raymond James were worth $1,955,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Raymond James by 2.2% in the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after buying an additional 246,349 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Raymond James by 4.8% in the third quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after acquiring an additional 98,664 shares during the period. Northern Trust Corp boosted its holdings in shares of Raymond James by 2.5% in the third quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock valued at $209,155,000 after acquiring an additional 51,239 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Raymond James by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 1,368,766 shares of the financial services provider’s stock valued at $137,465,000 after acquiring an additional 15,227 shares during the period. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of Raymond James by 8.6% in the third quarter. Ceredex Value Advisors LLC now owns 768,046 shares of the financial services provider’s stock valued at $77,455,000 after acquiring an additional 60,728 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 1.5 %

NYSE:RJF opened at $125.48 on Tuesday. The stock has a fifty day moving average price of $122.50 and a two-hundred day moving average price of $111.97. The stock has a market capitalization of $26.23 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.87 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. Raymond James has a 1 year low of $82.00 and a 1 year high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business posted $2.29 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James will post 9.36 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 22.56%.

Wall Street Analyst Weigh In

RJF has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $116.00 price objective (down from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Jefferies Financial Group restated a “hold” rating and set a $117.00 price target (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Morgan Stanley upped their price target on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. Finally, JMP Securities restated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus price target of $123.88.

Insider Activity

In other news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price 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 in the company, valued at $98,711.70. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

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.