New England Professional Planning Group Inc. raised its holdings in Raymond James (NYSE:RJF – Get Rating) by 0.3% in the first quarter, Holdings Channel.com reports. The fund owned 36,204 shares of the financial services provider’s stock after acquiring an additional 114 shares during the period. Raymond James comprises 2.1% of New England Professional Planning Group Inc.’s portfolio, making the stock its 5th biggest holding. New England Professional Planning Group Inc.’s holdings in Raymond James were worth $3,944,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC purchased a new stake in Raymond James during the first quarter valued at about $321,000. Sei Investments Co. lifted its stake in Raymond James by 1.4% during the fourth quarter. Sei Investments Co. now owns 295,046 shares of the financial services provider’s stock valued at $29,641,000 after buying an additional 4,138 shares in the last quarter. Connectus Wealth LLC purchased a new stake in Raymond James during the fourth quarter valued at about $603,000. Eaton Vance Management lifted its stake in Raymond James by 5.5% during the fourth quarter. Eaton Vance Management now owns 199,382 shares of the financial services provider’s stock valued at $19,733,000 after buying an additional 10,311 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Raymond James by 22.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,330,752 shares of the financial services provider’s stock valued at $133,608,000 after buying an additional 240,552 shares in the last quarter. 76.98% of the stock is owned by institutional investors.
In other news, insider James E. Bunn sold 6,000 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $100.21, for a total value of $601,260.00. Following the completion of the sale, the insider now directly owns 25,096 shares of the company’s stock, valued at $2,514,870.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.25% of the stock is currently owned by corporate insiders.
Raymond James (NYSE:RJF – Get Rating) last announced its earnings results on Wednesday, April 27th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.07). The company 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 firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. Sell-side analysts anticipate that Raymond James will post 7.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be given a $0.34 dividend. The ex-dividend date is Thursday, June 30th. This represents a $1.36 annualized dividend and a dividend yield of 1.53%. Raymond James’s dividend payout ratio is 19.17%.
A number of brokerages have recently weighed in on RJF. Morgan Stanley upped their target price on Raymond James from $128.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, April 11th. StockNews.com upgraded Raymond James from a “hold” rating to a “buy” rating in a report on Tuesday, June 7th. Finally, Citigroup dropped their target price on Raymond James from $205.00 to $195.00 in a report on Friday, April 29th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James currently has an average rating of “Moderate Buy” and a consensus price target of $139.87.
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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