Nisa Investment Advisors LLC cut its stake in shares of Raymond James (NYSE:RJF – Free Report) by 0.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,368 shares of the financial services provider’s stock after selling 454 shares during the period. Nisa Investment Advisors LLC’s holdings in Raymond James were worth $14,348,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Raymond James by 4.4% during the second quarter. Pacer Advisors Inc. now owns 13,499 shares of the financial services provider’s stock valued at $1,669,000 after buying an additional 569 shares during the period. ProShare Advisors LLC raised its holdings in shares of Raymond James by 31.0% in the 2nd quarter. ProShare Advisors LLC now owns 52,606 shares of the financial services provider’s stock valued at $6,503,000 after acquiring an additional 12,435 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Raymond James by 6.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 31,698 shares of the financial services provider’s stock valued at $3,918,000 after acquiring an additional 2,007 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Raymond James by 1.3% during the second quarter. Bank of Montreal Can now owns 265,811 shares of the financial services provider’s stock worth $32,889,000 after purchasing an additional 3,339 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Raymond James by 59.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,032 shares of the financial services provider’s stock worth $4,701,000 after purchasing an additional 14,231 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
RJF has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Wells Fargo & Company reduced their target price on Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Citigroup lifted their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $156.09.
Raymond James Trading Up 0.6 %
NYSE:RJF opened at $171.49 on Friday. Raymond James has a 52 week low of $104.24 and a 52 week high of $173.15. The firm has a market capitalization of $35.04 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.03 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $161.43 and a 200 day moving average of $137.82.
Raymond James (NYSE:RJF – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.13 earnings per share. On average, research analysts predict that Raymond James will post 11.02 earnings per share for the current year.
Raymond James Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is presently 20.60%.
Insider Buying and Selling at Raymond James
In related news, CEO Paul C. Reilly sold 50,000 shares of the company’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 transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade 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 64,621 shares of company stock valued at $10,729,488. Corporate insiders own 0.54% of the company’s stock.
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.
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