Crossmark Global Holdings Inc. Purchases 3,028 Shares of Raymond James (NYSE:RJF)

Crossmark Global Holdings Inc. raised its position in shares of Raymond James (NYSE:RJF) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,524 shares of the financial services provider’s stock after acquiring an additional 3,028 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Raymond James were worth $2,878,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. State Street Corp boosted its holdings in shares of Raymond James by 0.7% during the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after buying an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares during the period. Geode Capital Management LLC increased its stake in shares of Raymond James by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after acquiring an additional 12,869 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Raymond James by 1.5% during the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock valued at $309,689,000 after acquiring an additional 37,173 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s 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 sale, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of a number of research reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $166.00 price target (up from $151.00) on shares of Raymond James in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities upped their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Citigroup raised their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine 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, Raymond James presently has an average rating of “Hold” and a consensus target price of $156.09.

Raymond James Price Performance

Shares of NYSE:RJF opened at $170.51 on Thursday. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $34.84 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02. The stock’s fifty day simple moving average is $161.20 and its two-hundred day simple moving average is $137.59.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 earnings per share. As a group, analysts forecast that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is presently 20.60%.

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.