NuWave Investment Management LLC Acquires 374 Shares of Raymond James (NYSE:RJF)

NuWave Investment Management LLC boosted its holdings in shares of Raymond James (NYSE:RJF) by 1,626.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 397 shares of the financial services provider’s stock after purchasing an additional 374 shares during the period. NuWave Investment Management LLC’s holdings in Raymond James were worth $38,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RJF. Baird Financial Group Inc. raised its position in shares of Raymond James by 11.3% in the second quarter. Baird Financial Group Inc. now owns 8,813 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 898 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Raymond James by 8.2% in the second quarter. Advisor Group Holdings Inc. now owns 23,337 shares of the financial services provider’s stock valued at $1,607,000 after purchasing an additional 1,777 shares during the period. Verition Fund Management LLC bought a new position in shares of Raymond James in the second quarter valued at approximately $220,000. Man Group plc raised its position in shares of Raymond James by 344.1% in the second quarter. Man Group plc now owns 24,588 shares of the financial services provider’s stock valued at $1,692,000 after purchasing an additional 19,051 shares during the period. Finally, Private Advisor Group LLC bought a new position in shares of Raymond James in the second quarter valued at approximately $46,000. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Paul D. Allison sold 4,150 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $78.07, for a total value of $323,990.50. Following the sale, the chief executive officer now owns 28,914 shares in the company, valued at approximately $2,257,315.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Thomas A. James sold 47,448 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $86.74, for a total transaction of $4,115,639.52. The disclosure for this sale can be found here. Insiders sold a total of 94,357 shares of company stock worth $8,390,555 in the last 90 days. 10.82% of the stock is owned by corporate insiders.

RJF opened at $101.88 on Thursday. Raymond James has a fifty-two week low of $54.21 and a fifty-two week high of $105.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.02. The firm’s fifty day moving average price is $95.11 and its two-hundred day moving average price is $80.37. The company has a market capitalization of $14.02 billion, a P/E ratio of 16.49 and a beta of 1.33.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.45. Raymond James had a net margin of 10.75% and a return on equity of 13.04%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $1.95 billion. On average, equities research analysts expect that Raymond James will post 5.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 19th. Stockholders of record on Tuesday, January 5th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Monday, January 4th. This is an increase from Raymond James’s previous quarterly dividend of $0.37. Raymond James’s payout ratio is currently 21.08%.

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Raymond James from a “sell” rating to a “buy” rating and lifted their price target for the company from $82.00 to $110.00 in a research report on Tuesday, January 5th. Smith Barney Citigroup raised shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $87.00 to $112.00 in a research report on Tuesday, November 17th. Zacks Investment Research lowered shares of Raymond James from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Tuesday, December 29th. Wolfe Research raised shares of Raymond James from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $89.00 to $111.00 in a research report on Tuesday, January 5th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $87.00 to $112.00 in a research report on Tuesday, November 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $98.55.

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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