Raymond James (NYSE:RJF) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC cut its holdings in Raymond James (NYSE:RJF) by 10.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,000 shares of the financial services provider’s stock after selling 225 shares during the period. Principle Wealth Partners LLC’s holdings in Raymond James were worth $311,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Coldstream Capital Management Inc. boosted its holdings in shares of Raymond James by 1.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after buying an additional 64 shares during the period. CX Institutional boosted its holdings in shares of Raymond James by 2.9% in the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after buying an additional 66 shares during the period. Stablepoint Partners LLC boosted its stake in Raymond James by 0.5% during the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after purchasing an additional 73 shares during the period. Metis Global Partners LLC grew its position in Raymond James by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 82 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 93 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Trading Up 0.3 %

Raymond James stock opened at $162.94 on Wednesday. The firm has a 50 day simple moving average of $161.95 and a 200-day simple moving average of $142.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The stock has a market capitalization of $33.30 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, equities research analysts expect that Raymond James will post 11.12 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RJF shares. Bank of America upped 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. Citigroup upped their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $166.09.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares in the company, 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 filing with the SEC, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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 owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,621 shares of company stock worth $10,729,488. Corporate insiders own 0.54% of the company’s stock.

Raymond James Company 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.