Raymond James (NYSE:RJF) Stock Holdings Trimmed by American Trust

American Trust reduced its position in Raymond James (NYSE:RJF – Get Rating) by 15.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,452 shares of the financial services provider’s stock after selling 443 shares during the quarter. American Trust’s holdings in Raymond James were worth $219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Raymond James by 0.5% in the third quarter. Vanguard Group Inc. now owns 23,090,804 shares of the financial services provider’s stock valued at $2,281,835,000 after buying an additional 116,629 shares during the last quarter. Primecap Management Co. CA increased its holdings in Raymond James by 16.8% in the second quarter. Primecap Management Co. CA now owns 13,589,617 shares of the financial services provider’s stock valued at $1,215,048,000 after buying an additional 1,951,233 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after purchasing an additional 2,510,966 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Raymond James by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,780,213 shares of the financial services provider’s stock valued at $274,740,000 after purchasing an additional 17,746 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Raymond James by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,580,615 shares of the financial services provider’s stock valued at $156,195,000 after purchasing an additional 13,324 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Raymond James Stock Performance

Shares of NYSE RJF opened at $88.02 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $108.88 and a 200-day simple moving average of $109.68. The company has a market cap of $18.96 billion, a PE ratio of 12.26 and a beta of 1.05. Raymond James has a 12-month low of $84.86 and a 12-month high of $126.00.

Raymond James (NYSE:RJF – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.83 billion. Raymond James had a return on equity of 17.78% and a net margin of 13.65%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. On average, equities research analysts forecast that Raymond James will post 9.44 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Monday, April 3rd will be given a $0.42 dividend. The ex-dividend date is Friday, March 31st. This represents a $1.68 dividend on an annualized basis and a yield of 1.91%. Raymond James’s dividend payout ratio (DPR) is 23.40%.

Insiders Place Their Bets

In other Raymond James news, insider Jodi Perry sold 6,343 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $112.30, for a total value of $712,318.90. Following the completion of the sale, the insider now directly owns 7,150 shares in the company, valued at $802,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.46% of the stock is currently owned by 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.