Tower Bridge Advisors Sells 400 Shares of Raymond James (NYSE:RJF)

Tower Bridge Advisors lowered its position in shares of Raymond James (NYSE:RJF) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,054 shares of the financial services provider’s stock after selling 400 shares during the quarter. Tower Bridge Advisors’ holdings in Raymond James were worth $1,717,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. State Street Corp raised its holdings in Raymond James by 0.7% during the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after acquiring an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Raymond James by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after acquiring an additional 7,121 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Raymond James Stock Performance

Shares of NYSE:RJF opened at $154.61 on Friday. The firm has a fifty day simple moving average of $160.97 and a two-hundred day simple moving average of $146.55. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $31.68 billion, a P/E ratio of 15.08, a PEG ratio of 0.90 and a beta of 1.03.

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, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Analyst Ratings Changes

Several analysts recently issued reports on RJF shares. JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. JMP Securities raised 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. Finally, Citigroup boosted their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus target price of $166.09.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the transaction, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,451 shares of company stock valued at $10,531,255. Corporate insiders own 0.54% of the company’s stock.

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.