World Investment Advisors LLC Buys 1,924 Shares of Raymond James (NYSE:RJF)

World Investment Advisors LLC increased its stake in shares of Raymond James (NYSE:RJF) by 7.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,290 shares of the financial services provider’s stock after buying an additional 1,924 shares during the period. World Investment Advisors LLC’s holdings in Raymond James were worth $3,464,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RJF. Wolff Wiese Magana LLC increased its stake in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new position in Raymond James during the second quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new stake in Raymond James in the third quarter worth $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James in the third quarter valued at $34,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Raymond James during the 3rd quarter valued at $37,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of NYSE RJF opened at $160.49 on Friday. The firm has a market capitalization of $32.75 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.94 and a beta of 1.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $152.45 and its two-hundred day simple moving average is $130.02. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the firm posted $2.13 earnings per share. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.25%. Raymond James’s payout ratio is 20.60%.

Insider Activity at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,621 shares of company stock valued at $9,134,788 over the last 90 days. 9.74% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RJF shares. Morgan Stanley lifted their price objective on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. TD Cowen raised their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company reissued an “equal weight” rating and set a $169.00 target price (up previously from $152.00) on shares of Raymond James in a report on Thursday. Finally, JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $142.45.

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.