Andra AP fonden Decreases Stake in Raymond James (NYSE:RJF)

Andra AP fonden lowered its stake in Raymond James (NYSE:RJF) by 94.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,100 shares of the financial services provider’s stock after selling 53,900 shares during the period. Andra AP fonden’s holdings in Raymond James were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Van ECK Associates Corp acquired a new stake in shares of Raymond James in the third quarter worth $2,574,000. Principal Financial Group Inc. increased its stake in shares of Raymond James by 7.5% in the third quarter. Principal Financial Group Inc. now owns 626,866 shares of the financial services provider’s stock worth $76,770,000 after acquiring an additional 43,601 shares during the period. Portside Wealth Group LLC increased its stake in shares of Raymond James by 3.9% in the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 93 shares during the period. Atria Investments Inc increased its stake in shares of Raymond James by 3.5% in the third quarter. Atria Investments Inc now owns 31,482 shares of the financial services provider’s stock worth $3,855,000 after acquiring an additional 1,057 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Raymond James by 86.1% in the third quarter. Los Angeles Capital Management LLC now owns 44,380 shares of the financial services provider’s stock worth $5,435,000 after acquiring an additional 20,533 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 0.3 %

Shares of NYSE RJF opened at $143.35 on Monday. The company’s 50-day simple moving average is $159.80 and its 200-day simple moving average is $148.06. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The firm has a market cap of $29.37 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Equities analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup raised their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $167.55.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

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.