Sentry Investment Management LLC Sells 115 Shares of Raymond James (NYSE:RJF)

Sentry Investment Management LLC lessened its stake in shares of Raymond James (NYSE:RJF) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 703 shares of the financial services provider’s stock after selling 115 shares during the quarter. Sentry Investment Management LLC’s holdings in Raymond James were worth $109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RJF. Gladius Capital Management LP bought a new position in shares of Raymond James during the 3rd quarter worth about $34,000. Y.D. More Investments Ltd boosted its position in shares of 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 worth $36,000 after purchasing an additional 127 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Raymond James during the 3rd quarter worth about $37,000. Quarry LP lifted its position in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares in the last quarter. Finally, Eastern Bank bought a new position in Raymond James in the 4th quarter valued at about $68,000. Institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the firm’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 in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. The trade was a 4.11 % 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 in the last quarter. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RJF. TD Cowen raised their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Citigroup raised their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus target price of $166.09.

Raymond James Price Performance

Raymond James stock opened at $151.19 on Thursday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company’s 50 day moving average price is $160.97 and its two-hundred day moving average price is $146.20. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The stock has a market cap of $30.98 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last posted its earnings results 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 net margin of 14.06% and a return on equity of 19.71%. On average, equities analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James’s payout ratio is currently 19.51%.

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.