Raymond James (NYSE:RJF) is Peterson Wealth Services’ 9th Largest Position

Peterson Wealth Services lessened its stake in Raymond James (NYSE:RJF) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,321 shares of the financial services provider’s stock after selling 4,543 shares during the quarter. Raymond James accounts for about 2.9% of Peterson Wealth Services’ holdings, making the stock its 9th biggest position. Peterson Wealth Services’ holdings in Raymond James were worth $6,726,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new position in shares of Raymond James during the 1st quarter worth $364,000. Yousif Capital Management LLC increased its stake in shares of Raymond James by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 28,663 shares of the financial services provider’s stock worth $3,150,000 after purchasing an additional 275 shares during the last quarter. Cibc World Market Inc. acquired a new position in shares of Raymond James during the 1st quarter worth $4,195,000. Prudential PLC acquired a new position in shares of Raymond James during the 1st quarter worth $540,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Raymond James by 52.9% during the 1st quarter. Cetera Investment Advisers now owns 4,636 shares of the financial services provider’s stock worth $510,000 after buying an additional 1,604 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. UBS Group decreased their price objective on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Citigroup upped their price objective on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, TD Cowen increased their price target on shares of Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.88.

Raymond James Stock Performance

Raymond James stock traded up $0.93 during mid-day trading on Thursday, reaching $122.87. The company had a trading volume of 191,646 shares, compared to its average volume of 1,014,047. The company has a 50 day moving average of $121.96 and a 200-day moving average of $111.32. The firm has a market cap of $25.68 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.86 and a beta of 1.05. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. On average, sell-side analysts expect that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is 22.56%.

Insider Transactions at Raymond James

In other news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares in the company, valued at $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by insiders.

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.