Raymond James (NYSE:RJF) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lowered its stake in shares of Raymond James (NYSE:RJF) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,379,290 shares of the financial services provider’s stock after selling 231,873 shares during the quarter. Raymond James comprises about 1.9% of AGF Management Ltd.’s holdings, making the stock its 8th largest position. AGF Management Ltd.’s holdings in Raymond James were worth $369,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RJF. Wellington Management Group LLP lifted its position in shares of Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after acquiring an additional 2,898,242 shares during the period. State Street Corp grew its stake in Raymond James by 0.7% during the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after buying an additional 54,265 shares during the period. JPMorgan Chase & Co. raised its position in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares during the period. Geode Capital Management LLC increased its holdings in Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after purchasing an additional 12,869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Raymond James by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider’s stock valued at $167,472,000 after acquiring an additional 13,817 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on RJF shares. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company raised their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Bank of America lifted their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Citigroup boosted their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Morgan Stanley raised their target price on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Nine investment 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 stock. According to MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus price target of $167.55.

Insider Activity at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Raymond James Price Performance

Shares of NYSE RJF opened at $137.53 on Tuesday. The company has a 50 day moving average of $159.44 and a 200 day moving average of $148.21. 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 has a twelve month low of $104.24 and a twelve month high of $174.32. The firm has a market cap of $28.18 billion, a P/E ratio of 13.42, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, research analysts expect 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is 19.51%.

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.