Raymond James (NYSE:RJF) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its stake in shares of Raymond James (NYSE:RJF) by 9.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,327 shares of the financial services provider’s stock after selling 250 shares during the quarter. Private Advisor Group LLC’s holdings in Raymond James were worth $362,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd raised its stake in Raymond James by 121.0% during the 4th 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 in the last quarter. Gladius Capital Management LP bought a new stake in shares of Raymond James in the 3rd quarter worth $34,000. Peterson Financial Group Inc. bought a new stake in shares of Raymond James in the 3rd quarter worth $37,000. Quarry LP raised its stake in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Raymond James in the 4th quarter worth $68,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

RJF opened at $143.97 on Wednesday. The firm has a market capitalization of $29.50 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. The stock’s 50 day moving average price is $160.60 and its two-hundred day moving average price is $147.46. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

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

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Insider Buying and Selling

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. boosted their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $167.55.

About Raymond James

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.