Raymond James (NYSE:RJF) Holdings Decreased by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its stake in shares of Raymond James (NYSE:RJFFree Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,506 shares of the financial services provider’s stock after selling 129 shares during the quarter. Portside Wealth Group LLC’s holdings in Raymond James were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. raised its position in Raymond James by 26.0% in the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock worth $16,668,000 after acquiring an additional 34,200 shares in the last quarter. Banque Cantonale Vaudoise raised its position in Raymond James by 13.3% in the third quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 318 shares in the last quarter. Operose Advisors LLC raised its position in Raymond James by 241.3% in the third quarter. Operose Advisors LLC now owns 1,024 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 724 shares in the last quarter. First Foundation Advisors bought a new stake in Raymond James in the third quarter worth about $1,090,000. Finally, Comerica Bank bought a new stake in Raymond James in the second quarter worth about $38,099,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Raymond James news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares in the company, valued at $98,711.70. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares in the company, valued at $98,711.70. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RJF shares. TD Cowen lifted their price target on Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research note on Friday. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. The Goldman Sachs Group reissued a “neutral” rating and issued a $116.00 price target (down previously from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. UBS Group dropped their price target on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $117.00 price target (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $120.50.

View Our Latest Analysis on RJF

Raymond James Trading Up 0.7 %

Shares of NYSE RJF opened at $126.51 on Tuesday. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.04 and a beta of 1.04. The business has a 50 day simple moving average of $116.95 and a 200 day simple moving average of $108.72. Raymond James has a 52 week low of $82.00 and a 52 week high of $127.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99.

Raymond James (NYSE:RJFGet Free Report) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company earned $2.29 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts predict that Raymond James will post 9.2 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.42%. Raymond James’s dividend payout ratio (DPR) is currently 22.56%.

Raymond James 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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