Greenleaf Trust Boosts Stake in Raymond James (NYSE:RJF)

Greenleaf Trust boosted its stake in Raymond James (NYSE:RJF) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,873 shares of the financial services provider’s stock after acquiring an additional 190 shares during the period. Greenleaf Trust’s holdings in Raymond James were worth $432,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Steph & Co. increased its position in Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 91 shares during the period. Federated Hermes Inc. increased its position in Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 96 shares during the period. Addison Advisors LLC increased its position in Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 103 shares during the period. SVB Wealth LLC increased its position in Raymond James by 5.6% in the 3rd quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 108 shares during the period. Finally, Great Valley Advisor Group Inc. increased its position in Raymond James by 3.2% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Performance

RJF opened at $127.08 on Wednesday. The stock has a market cap of $26.56 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $122.75 and its 200 day simple moving average is $112.17. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is currently 22.56%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RJF. Citigroup boosted their price target on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Jefferies Financial Group reiterated a “hold” rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. TD Cowen boosted their target price on Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $116.00 target price (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.88.

Insider Activity at Raymond James

In other Raymond James news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction on Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the acquisition, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of the company’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 sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

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.