Amundi Reduces Stock Position in Raymond James (NYSE:RJF)

Amundi lowered its position in shares of Raymond James (NYSE:RJF) by 0.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 775,648 shares of the financial services provider’s stock after selling 1,536 shares during the quarter. Amundi’s holdings in Raymond James were worth $123,621,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its position in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Plato Investment Management Ltd boosted its position in Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 217 shares during the period. Gladius Capital Management LP purchased a new stake in shares of Raymond James in the 3rd quarter worth about $34,000. Peterson Financial Group Inc. purchased a new stake in shares of Raymond James in the 3rd quarter worth about $37,000. Finally, Quarry LP lifted its position in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 4.1 %

Shares of Raymond James stock opened at $137.53 on Tuesday. The firm has a market cap of $28.18 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a 50-day moving average of $159.44 and a 200 day moving average of $148.21.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.45%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RJF. JMP Securities raised their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods raised their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley raised their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Bank of America raised their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $167.55.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James 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 completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.