Raymond James (NYSE:RJF) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in shares of Raymond James (NYSE:RJFFree Report) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 994,045 shares of the financial services provider’s stock after selling 2,929 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.48% of Raymond James worth $99,832,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RJF. Wellington Management Group LLP grew its holdings in Raymond James by 80.5% during the 1st quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock worth $618,780,000 after acquiring an additional 2,510,966 shares in the last quarter. Norges Bank bought a new position in shares of Raymond James in the 4th quarter worth about $206,765,000. JPMorgan Chase & Co. lifted its position in shares of Raymond James by 26.7% in the 1st quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock worth $641,330,000 after buying an additional 1,448,047 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Raymond James by 214.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock worth $106,474,000 after buying an additional 778,644 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Raymond James by 4.7% in the 2nd quarter. BlackRock Inc. now owns 17,196,715 shares of the financial services provider’s stock worth $1,784,503,000 after buying an additional 772,492 shares during the last quarter. 75.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Raymond James

In other news, CEO Steven M. Raney sold 930 shares of Raymond James stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $110.42, for a total value of $102,690.60. Following the transaction, the chief executive officer now directly owns 55,618 shares of the company’s stock, valued at $6,141,339.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Steven M. Raney sold 930 shares of Raymond James stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $110.42, for a total value of $102,690.60. Following the transaction, the chief executive officer now directly owns 55,618 shares of the company’s stock, valued at $6,141,339.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider George Catanese sold 3,866 shares of Raymond James stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $106.75, for a total transaction of $412,695.50. Following the completion of the transaction, the insider now directly owns 11,712 shares in the company, valued at $1,250,256. The disclosure for this sale can be found here. Insiders have sold 6,687 shares of company stock valued at $727,008 in the last quarter. Insiders own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the topic of a number of recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $117.00 price target (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. TD Cowen initiated coverage on shares of Raymond James in a research report on Thursday, January 4th. They issued a “market perform” rating and a $121.00 price target on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $116.00 price objective (down from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Morgan Stanley lifted their price objective on shares of Raymond James from $106.00 to $113.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $119.25.

Check Out Our Latest Analysis on Raymond James

Raymond James Stock Up 2.5 %

Raymond James stock opened at $114.88 on Friday. The stock has a market cap of $24.01 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.95 and a beta of 1.03. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $110.86 and its two-hundred day moving average price is $105.70. Raymond James has a 52 week low of $82.00 and a 52 week high of $116.58.

Raymond James (NYSE:RJFGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.15. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. On average, analysts expect that Raymond James will post 9.15 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. This is a boost from Raymond James’s previous quarterly dividend of $0.42. Raymond James’s payout ratio is currently 22.56%.

Raymond James Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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