Crestwood Advisors Group LLC Boosts Stock Position in Raymond James (NYSE:RJF)

Crestwood Advisors Group LLC grew its stake in Raymond James (NYSE:RJF) by 3.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,982 shares of the financial services provider’s stock after purchasing an additional 67 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Raymond James were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. increased its stake in Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after buying an additional 9,217 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Raymond James during the third quarter worth about $3,561,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after purchasing an additional 7,028 shares in the last quarter. UMB Bank n.a. lifted 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 valued at $7,045,000 after purchasing an additional 44,735 shares during the period. Finally, Longboard Asset Management LP purchased a new stake in Raymond James in the 4th quarter valued at approximately $245,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,621 shares of company stock worth $10,729,488. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

RJF has been the subject of a number of analyst reports. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. TD Cowen boosted their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Bank of America boosted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Nine equities 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, the company currently has a consensus rating of “Hold” and a consensus price target of $166.09.

Raymond James Stock Performance

Shares of RJF opened at $150.96 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market cap of $30.93 billion, a P/E ratio of 14.73, a PEG ratio of 0.90 and a beta of 1.03. The company has a 50-day moving average of $160.99 and a two-hundred day moving average of $146.16. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

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

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is currently 19.51%.

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.