Voya Investment Management LLC Decreases Stake in Raymond James (NYSE:RJF)

Voya Investment Management LLC lessened its stake in shares of Raymond James (NYSE:RJF) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,743 shares of the financial services provider’s stock after selling 4,021 shares during the quarter. Voya Investment Management LLC’s holdings in Raymond James were worth $8,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its holdings in Raymond James by 33.5% in the 3rd quarter. Barclays PLC now owns 847,108 shares of the financial services provider’s stock worth $103,738,000 after acquiring an additional 212,697 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Raymond James in the third quarter worth about $308,000. Pine Valley Investments Ltd Liability Co increased its holdings in Raymond James by 18.7% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,788 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 439 shares during the period. World Investment Advisors LLC raised its position in Raymond James by 7.3% during the 3rd quarter. World Investment Advisors LLC now owns 28,290 shares of the financial services provider’s stock valued at $3,464,000 after purchasing an additional 1,924 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in Raymond James by 1.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 67,439 shares of the financial services provider’s stock valued at $8,259,000 after purchasing an additional 1,026 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $138.19 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market capitalization of $28.32 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company’s 50-day moving average is $139.65 and its 200 day moving average is $151.97.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $2.31 earnings per share. Sell-side analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.45%. Raymond James’s payout ratio is 19.25%.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RJF shares. Morgan Stanley boosted their target price on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Citigroup cut their target price on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. JMP Securities reissued a “market outperform” rating and issued a $175.00 price target on shares of Raymond James in a research note on Thursday, April 24th. Bank of America lifted their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Cowen restated a “hold” rating on shares of Raymond James in a research note on Thursday, April 24th. Ten 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, the company presently has a consensus rating of “Hold” and a consensus price target of $157.64.

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.