Allspring Global Investments Holdings LLC Has $14.39 Million Stock Position in Raymond James (NYSE:RJF)

Allspring Global Investments Holdings LLC lowered its stake in shares of Raymond James (NYSE:RJF) by 24.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,804 shares of the financial services provider’s stock after selling 30,294 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Raymond James were worth $14,385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RJF. Gladius Capital Management LP bought a new position in shares of Raymond James during the 3rd quarter worth about $34,000. Y.D. More Investments Ltd increased its stake in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Peterson Financial Group Inc. bought a new position in Raymond James during the third quarter valued at about $37,000. Quarry LP increased its stake in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares during the period. Finally, Eastern Bank bought a new stake in shares of Raymond James during the fourth quarter valued at approximately $68,000. Institutional investors own 83.83% of the company’s stock.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’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 completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 over the last three months. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RJF has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Citigroup boosted their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. JMP Securities upped their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Bank of America upped their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, TD Cowen upped their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $166.09.

Raymond James Stock Down 0.5 %

NYSE RJF opened at $159.63 on Tuesday. The stock’s 50 day simple moving average is $161.63 and its 200 day simple moving average is $144.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market cap of $32.62 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. Raymond James has a one year low of $104.24 and a one year high of $174.32.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, sell-side analysts forecast that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s dividend payout ratio is 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.