Hennion & Walsh Asset Management Inc. Purchases New Shares in Raymond James (NYSE:RJF)

Posted by Defense World Staff on Mar 25th, 2023

Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Raymond James (NYSE:RJF – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,217 shares of the financial services provider’s stock, valued at approximately $557,000.

A number of other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in Raymond James during the 1st quarter valued at $364,000. Yousif Capital Management LLC boosted its stake in 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 valued at $3,150,000 after acquiring an additional 275 shares during the last quarter. Cibc World Market Inc. bought a new position in Raymond James during the 1st quarter valued at $4,195,000. Prudential PLC bought a new position in Raymond James during the 1st quarter valued at $540,000. Finally, Cetera Investment Advisers boosted its stake in Raymond James by 52.9% during the 1st quarter. Cetera Investment Advisers now owns 4,636 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 1,604 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RJF has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating on the stock in a research note on Monday, January 9th. Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $120.00 to $126.00 and gave the stock a “market perform” rating in a research report on Thursday, January 12th. StockNews.com assumed coverage on shares of Raymond James in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Credit Suisse Group reduced their price target on shares of Raymond James from $119.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, January 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Raymond James from $148.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, January 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $122.86.

Raymond James Trading Down 2.4 %

Shares of NYSE:RJF opened at $89.09 on Friday. The company has a market cap of $19.19 billion, a PE ratio of 12.41 and a beta of 1.05. The company’s 50-day moving average price is $107.34 and its 200 day moving average price is $109.35. Raymond James has a fifty-two week low of $84.86 and a fifty-two week high of $126.00. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.39.

Raymond James (NYSE:RJF – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.01. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.83 billion. Raymond James had a net margin of 13.65% and a return on equity of 17.78%. Raymond James’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. Sell-side analysts anticipate that Raymond James will post 9.44 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 3rd will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, March 31st. This represents a $1.68 annualized dividend and a yield of 1.89%. Raymond James’s dividend payout ratio is presently 23.40%.

Insider Activity at Raymond James

In related news, insider Jodi Perry sold 6,343 shares of Raymond James stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $112.30, for a total value of $712,318.90. Following the sale, the insider now directly owns 7,150 shares in the company, valued at approximately $802,945. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.46% of the stock is currently owned by insiders.

Raymond James Company Profile

(Get Rating)

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.