Wetzel Investment Advisors Inc. Takes $672,000 Position in Raymond James (NYSE:RJF)

Wetzel Investment Advisors Inc. acquired a new stake in Raymond James (NYSE:RJF) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,029 shares of the financial services provider’s stock, valued at approximately $672,000.

Several other large investors have also made changes to their positions in RJF. Wellington Management Group LLP boosted its holdings in Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock worth $618,780,000 after buying an additional 2,510,966 shares in the last quarter. Norges Bank purchased a new stake in Raymond James during the fourth quarter worth $206,765,000. JPMorgan Chase & Co. boosted its holdings in Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock worth $641,330,000 after buying an additional 1,448,047 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Raymond James by 214.5% during the first quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock worth $106,474,000 after buying an additional 778,644 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Raymond James by 35.1% during the fourth quarter. Morgan Stanley now owns 2,278,272 shares of the financial services provider’s stock worth $243,433,000 after buying an additional 591,327 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Price Performance

Shares of NYSE RJF traded up $1.64 during mid-day trading on Friday, reaching $123.60. The company’s stock had a trading volume of 3,031,427 shares, compared to its average volume of 1,052,742. The stock has a 50-day moving average of $122.34 and a two-hundred day moving average of $111.58. The stock has a market capitalization of $25.84 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19.

Raymond James (NYSE:RJF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. On average, equities research analysts anticipate that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 22.56%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Morgan Stanley increased their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Jefferies Financial Group restated a “hold” rating and set a $117.00 price objective (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $110.00 to $135.00 in a research report on Wednesday, January 10th. Finally, Citigroup upped their price objective on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Raymond James currently has an average rating of “Hold” and a consensus price target of $123.88.

Insider Activity at Raymond James

In other news, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Art A. Garcia bought 879 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is currently owned by insiders.

Raymond James 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.