Oppenheimer Asset Management Inc. Reduces Stake in Raymond James (NYSE:RJF)

Oppenheimer Asset Management Inc. reduced its stake in Raymond James (NYSE:RJF) by 0.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 35,127 shares of the financial services provider’s stock after selling 253 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Raymond James were worth $5,456,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. grew its holdings in Raymond James by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 77,700 shares of the financial services provider’s stock valued at $12,069,000 after buying an additional 1,300 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in shares of Raymond James during the 4th quarter worth $208,000. Cavalier Investments LLC grew its holdings in shares of Raymond James by 4.3% during the 4th quarter. Cavalier Investments LLC now owns 8,151 shares of the financial services provider’s stock worth $1,266,000 after purchasing an additional 336 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Raymond James by 554.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 290,389 shares of the financial services provider’s stock worth $45,106,000 after purchasing an additional 246,009 shares during the period. Finally, Horizon Advisory Services Inc. purchased a new position in shares of Raymond James during the 4th quarter worth $347,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

RJF stock opened at $154.61 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The firm has a market capitalization of $31.68 billion, a P/E ratio of 15.08, a P/E/G ratio of 0.90 and a beta of 1.03. The business’s 50-day moving average is $160.97 and its two-hundred day moving average is $146.55. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly 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%. Analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the 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 sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now directly owns 80,421 shares in the company, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,451 shares of company stock valued at $10,531,255 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

RJF has been the subject of a number of research analyst reports. Bank of America increased their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Nine equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $166.09.

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.