Raymond James (NYSE:RJF) Position Reduced by Collective Family Office LLC

Collective Family Office LLC lessened its stake in Raymond James (NYSE:RJF) by 10.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,850 shares of the financial services provider’s stock after selling 350 shares during the period. Collective Family Office LLC’s holdings in Raymond James were worth $443,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in Raymond James by 31.4% during the third 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 buying an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Ceredex Value Advisors LLC boosted its holdings in Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after purchasing an additional 474,443 shares during the period. AGF Management Ltd. raised its stake in Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after acquiring an additional 378,033 shares during the period. Finally, Two Sigma Advisers LP bought a new position in Raymond James during the 3rd quarter worth $34,105,000. Institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $169.00 price objective (up previously from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the company from $161.00 to $185.00 in a research note on Monday. Jefferies Financial Group raised their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, TD Cowen lifted their price target on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target of $152.73.

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock worth $10,729,488 over the last quarter. Company insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Shares of Raymond James stock traded down $0.62 on Wednesday, reaching $158.36. The stock had a trading volume of 200,278 shares, compared to its average volume of 831,434. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $171.38. The business’s 50-day moving average price is $159.40 and its two-hundred day moving average price is $134.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The stock has a market cap of $32.31 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts forecast that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is 20.60%.

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.