ING Groep NV Purchases Shares of 8,269 Raymond James (NYSE:RJF)

ING Groep NV acquired a new position in shares of Raymond James (NYSE:RJF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,269 shares of the financial services provider’s stock, valued at approximately $1,284,000.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Raymond James by 44,291.7% in the third quarter. International Assets Investment Management LLC now owns 10,654 shares of the financial services provider’s stock worth $1,305,000 after acquiring an additional 10,630 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Raymond James by 468.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 27,576 shares of the financial services provider’s stock worth $3,377,000 after purchasing an additional 22,728 shares in the last quarter. Ballentine Partners LLC raised its stake in Raymond James by 21.4% in the 3rd quarter. Ballentine Partners LLC now owns 2,156 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 380 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in Raymond James by 6.5% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,394 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 147 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Raymond James by 25.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,154 shares of the financial services provider’s stock worth $1,978,000 after purchasing an additional 3,282 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on 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 owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Raymond James Price Performance

RJF opened at $151.34 on Monday. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The firm has a market cap of $31.01 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.90 and a beta of 1.03. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $161.30 and a 200 day simple moving average of $145.58.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities research analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.32%. Raymond James’s dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RJF. JPMorgan Chase & Co. boosted their price objective on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Bank of America raised their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Raymond James presently has an average rating of “Hold” and an average price target of $166.09.

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.