Kooman & Associates Invests $222,000 in Raymond James (NYSE:RJF)

Kooman & Associates purchased a new position in shares of Raymond James (NYSE:RJF) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,428 shares of the financial services provider’s stock, valued at approximately $222,000.

Several other hedge funds have also made changes to their positions in RJF. Gladius Capital Management LP purchased a new stake in shares of Raymond James during the third quarter worth approximately $34,000. Y.D. More Investments Ltd increased its stake in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 127 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Raymond James during the third quarter worth approximately $37,000. Quarry LP increased its stake in shares of Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Raymond James during the fourth quarter worth approximately $68,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America raised their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Citigroup increased their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average price target of $166.09.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Raymond James Price Performance

Raymond James stock opened at $151.34 on Friday. Raymond James has a one year low of $104.24 and a one year high of $174.32. 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 business has a fifty day moving average of $161.30 and a two-hundred day moving average of $145.31. The company has a market cap of $31.01 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03.

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

Raymond James Announces Dividend

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

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.