Central Bank & Trust Co. Sells 25,034 Shares of Raymond James (NYSE:RJF)

Central Bank & Trust Co. trimmed its position in shares of Raymond James (NYSE:RJF) by 93.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,807 shares of the financial services provider’s stock after selling 25,034 shares during the period. Central Bank & Trust Co.’s holdings in Raymond James were worth $221,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norden Group LLC boosted its position in shares of Raymond James by 75.5% during the 1st quarter. Norden Group LLC now owns 4,439 shares of the financial services provider’s stock valued at $570,000 after acquiring an additional 1,909 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Raymond James by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Raymond James by 10.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,227 shares of the financial services provider’s stock worth $3,496,000 after buying an additional 2,616 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Raymond James during the 1st quarter worth approximately $83,000. Finally, Nordea Investment Management AB boosted its stake in Raymond James by 3.5% in the 1st quarter. Nordea Investment Management AB now owns 15,628 shares of the financial services provider’s stock valued at $2,001,000 after buying an additional 526 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on RJF. JMP Securities lifted their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. The Goldman Sachs Group raised their price objective on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their price target on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Raymond James presently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Price Performance

Shares of RJF stock opened at $146.45 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 12 month low of $98.72 and a 12 month high of $151.59. The firm has a market cap of $30.16 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.73 and a beta of 0.99. The stock has a 50-day moving average price of $127.94 and a 200 day moving average price of $122.33.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts expect that Raymond James will post 10.73 EPS for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.23%. Raymond James’s dividend payout ratio (DPR) is presently 18.54%.

About Raymond James

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.