Hennion & Walsh Asset Management Inc. Reduces Position in Raymond James (NYSE:RJF)

Hennion & Walsh Asset Management Inc. trimmed its stake in shares of Raymond James (NYSE:RJF) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,224 shares of the financial services provider’s stock after selling 406 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Raymond James were worth $3,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. LPL Financial LLC lifted its holdings in Raymond James by 11.4% in the third quarter. LPL Financial LLC now owns 45,962 shares of the financial services provider’s stock valued at $4,616,000 after acquiring an additional 4,690 shares during the period. Mariner LLC boosted its holdings in shares of Raymond James by 3.5% in the third quarter. Mariner LLC now owns 23,749 shares of the financial services provider’s stock worth $2,385,000 after buying an additional 798 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Raymond James by 2,328.1% in the third quarter. Federated Hermes Inc. now owns 777 shares of the financial services provider’s stock worth $78,000 after buying an additional 745 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Raymond James by 33.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 15,687 shares of the financial services provider’s stock valued at $1,575,000 after buying an additional 3,944 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Raymond James by 180.2% during the third quarter. Tower Research Capital LLC TRC now owns 22,692 shares of the financial services provider’s stock valued at $2,279,000 after buying an additional 14,594 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on RJF shares. Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Morgan Stanley lifted their price objective on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup raised their price objective on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods dropped their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Finally, TD Cowen decreased their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $126.22.

Insider Activity at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Raymond James Trading Up 1.7 %

RJF opened at $123.61 on Friday. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The company has a market capitalization of $25.62 billion, a P/E ratio of 14.95, a PEG ratio of 0.84 and a beta of 1.01. The stock’s fifty day moving average is $122.67 and its two-hundred day moving average is $119.20. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. Raymond James’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 EPS. Analysts forecast that Raymond James will post 9.55 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid 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 of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

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.