Pacer Advisors Inc. Boosts Holdings in Raymond James (NYSE:RJF)

Pacer Advisors Inc. raised its holdings in shares of Raymond James (NYSE:RJF) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,630 shares of the financial services provider’s stock after buying an additional 897 shares during the period. Pacer Advisors Inc.’s holdings in Raymond James were worth $2,272,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RJF. Blue Trust Inc. increased its stake in shares of Raymond James by 15.2% in the 4th quarter. Blue Trust Inc. now owns 5,407 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 713 shares in the last quarter. High Net Worth Advisory Group LLC grew its holdings in Raymond James by 2.6% during the fourth quarter. High Net Worth Advisory Group LLC now owns 14,598 shares of the financial services provider’s stock valued at $2,268,000 after purchasing an additional 366 shares during the period. Stablepoint Partners LLC increased its position in Raymond James by 0.5% in the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after buying an additional 73 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Raymond James by 6.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,832 shares of the financial services provider’s stock worth $440,000 after buying an additional 172 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Raymond James during the 4th quarter valued at about $324,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock worth $10,729,488 over the last three months. 0.54% of the stock is owned by insiders.

Raymond James Stock Performance

Shares of NYSE:RJF opened at $168.41 on Friday. The firm has a fifty day simple moving average of $162.36 and a two-hundred day simple moving average of $139.94. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.42 billion, a P/E ratio of 16.43, a PEG ratio of 1.05 and a beta of 1.02.

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, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. On average, analysts expect that Raymond James will post 11.02 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RJF. Wells Fargo & Company increased their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods raised their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday. Morgan Stanley upped their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Jefferies Financial Group boosted their price objective on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $166.09.

Raymond James Company Profile

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.