Captrust Financial Advisors Raises Holdings in Raymond James (NYSE:RJF)

Captrust Financial Advisors increased its position in Raymond James (NYSE:RJF) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,007 shares of the financial services provider’s stock after buying an additional 325 shares during the period. Captrust Financial Advisors’ holdings in Raymond James were worth $6,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in shares of Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 138 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Raymond James in the 4th quarter worth about $105,701,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Raymond James during the 4th quarter valued at about $511,000. Proficio Capital Partners LLC bought a new position in shares of Raymond James in the 4th quarter valued at about $21,334,000. Finally, UMB Bank n.a. grew its position in Raymond James by 7,238.7% in the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after acquiring an additional 44,735 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RJF shares. Bank of America lowered Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price objective for the company. in a research note on Wednesday, April 30th. Cowen restated a “hold” rating on shares of Raymond James in a research report on Thursday, April 24th. The Goldman Sachs Group cut their price objective on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Citigroup lowered their target price on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Raymond James from $149.00 to $143.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $153.82.

Insider Transactions at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction 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 in the company, valued at $10,677,203.23. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Raymond James Stock Performance

Raymond James stock opened at $145.57 on Friday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a market capitalization of $29.83 billion, a PE ratio of 14.20, a P/E/G ratio of 0.90 and a beta of 1.02. The company has a 50 day moving average price of $138.19 and a 200-day moving average price of $152.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. As a group, equities analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. Raymond James’s dividend payout ratio is currently 19.25%.

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.