Lake Street Advisors Group LLC Lowers Position in Raymond James (NYSE:RJF)

Lake Street Advisors Group LLC trimmed its position in shares of Raymond James (NYSE:RJF) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,304 shares of the financial services provider’s stock after selling 90 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Raymond James were worth $358,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Raymond James by 31.4% during the third 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 during the period. State Street Corp boosted its stake in shares of Raymond James by 0.7% during the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after acquiring an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Raymond James by 12.0% during the 3rd 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 during the period. Geode Capital Management LLC increased its stake in shares of Raymond James by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after purchasing an additional 12,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Raymond James by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after purchasing an additional 7,121 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’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. The trade was a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,451 shares of company stock valued at $10,531,255 over the last quarter. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America upped their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their target price for the company from $161.00 to $185.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective 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, Citigroup boosted their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Nine investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $166.09.

Raymond James Trading Up 0.1 %

Shares of NYSE:RJF opened at $151.58 on Friday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a market cap of $31.06 billion, a PE ratio of 14.79, a P/E/G ratio of 0.90 and a beta of 1.03. The company’s 50 day moving average is $160.98 and its two-hundred day moving average is $146.24.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

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.