National Pension Service Decreases Stake in Raymond James (NYSE:RJF)

National Pension Service cut its holdings in Raymond James (NYSE:RJF – Get Rating) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,125 shares of the financial services provider’s stock after selling 3,177 shares during the quarter. National Pension Service’s holdings in Raymond James were worth $29,398,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after buying an additional 138 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Raymond James in the third quarter valued at approximately $44,000. Alta Advisers Ltd purchased a new stake in shares of Raymond James in the third quarter valued at approximately $49,000. Atlas Capital Advisors LLC purchased a new stake in shares of Raymond James in the second quarter valued at approximately $49,000. Finally, Allworth Financial LP boosted its stake in shares of Raymond James by 780.6% in the third quarter. Allworth Financial LP now owns 590 shares of the financial services provider’s stock valued at $58,000 after buying an additional 523 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

Raymond James stock opened at $89.46 on Friday. The stock has a market capitalization of $19.27 billion, a P/E ratio of 12.46 and a beta of 1.05. Raymond James has a 12-month low of $84.86 and a 12-month high of $126.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.98 and a quick ratio of 0.96. The firm’s 50-day moving average is $109.33 and its two-hundred day moving average is $109.80.

Raymond James (NYSE:RJF – Get Rating) last announced its earnings results on Wednesday, January 25th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.01. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.83 billion. Raymond James had a net margin of 13.65% and a return on equity of 17.78%. Raymond James’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 earnings per share. Equities analysts predict that Raymond James will post 9.44 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Monday, April 3rd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, March 31st. Raymond James’s payout ratio is 23.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RJF shares. UBS Group reduced their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Monday, January 9th. The Goldman Sachs Group reduced their price objective on Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, January 4th. Credit Suisse Group reduced their price objective on Raymond James from $119.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, January 26th. Keefe, Bruyette & Woods lifted their price objective on Raymond James from $120.00 to $126.00 and gave the stock a “market perform” rating in a report on Thursday, January 12th. Finally, StockNews.com started coverage on Raymond James in a report on Thursday. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Raymond James has an average rating of “Hold” and a consensus target price of $122.86.

Insider Buying and Selling at Raymond James

In other news, insider Jodi Perry sold 6,343 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $112.30, for a total transaction of $712,318.90. Following the transaction, the insider now directly owns 7,150 shares in the company, valued at approximately $802,945. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.46% of the stock is owned by company insiders.

About Raymond James

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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.