GAMMA Investing LLC Raises Stock Holdings in Raymond James (NYSE:RJF)

GAMMA Investing LLC grew its stake in Raymond James (NYSE:RJF) by 25,259.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 674,825 shares of the financial services provider’s stock after buying an additional 672,164 shares during the quarter. GAMMA Investing LLC owned approximately 0.33% of Raymond James worth $93,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Hawaiian Bank grew its position in shares of Raymond James by 45.5% during the first quarter. First Hawaiian Bank now owns 37,631 shares of the financial services provider’s stock worth $5,227,000 after purchasing an additional 11,771 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Raymond James by 32.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 788 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 195 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Raymond James by 4.8% during the fourth quarter. California State Teachers Retirement System now owns 276,397 shares of the financial services provider’s stock worth $42,933,000 after purchasing an additional 12,616 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Raymond James by 11.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,628 shares of the financial services provider’s stock worth $6,621,000 after purchasing an additional 4,269 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Raymond James during the fourth quarter worth about $17,379,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the sale, the insider now directly owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider now directly owns 74,586 shares of the company’s stock, valued at $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Raymond James Price Performance

Shares of Raymond James stock opened at $146.97 on Monday. The stock has a market cap of $29.65 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The stock has a 50 day moving average price of $140.27 and a 200-day moving average price of $151.96. Raymond James has a one year low of $104.24 and a one year high of $174.32.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Raymond James’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 EPS. Equities analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Tuesday, July 1st. Raymond James’s dividend payout ratio (DPR) is 19.25%.

Analyst Ratings Changes

RJF has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their target price on Raymond James from $149.00 to $143.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. JMP Securities reiterated a “market outperform” rating and set a $175.00 target price on shares of Raymond James in a research report on Thursday, April 24th. Bank of America cut Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Cowen restated a “hold” rating on shares of Raymond James in a report on Thursday, April 24th. Finally, Citigroup cut their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $153.82.

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.