Gateway Investment Advisers LLC lowered its stake in shares of Raymond James (NYSE:RJF - Free Report) by 31.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,394 shares of the financial services provider's stock after selling 2,445 shares during the period. Gateway Investment Advisers LLC's holdings in Raymond James were worth $838,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in Raymond James by 1.6% during the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider's stock worth $73,940,000 after buying an additional 9,217 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Raymond James by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider's stock valued at $57,941,000 after acquiring an additional 7,028 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Raymond James in the third quarter valued at about $3,561,000. XTX Topco Ltd raised its position in Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider's stock worth $1,032,000 after purchasing an additional 6,649 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Raymond James by 109.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider's stock worth $13,778,000 after purchasing an additional 58,200 shares during the period. Institutional investors own 83.83% of the company's stock.
Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Raymond James from $143.00 to $170.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Jefferies Financial Group upped their price target on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Morgan Stanley lifted their price objective on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. 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 report on Friday, January 10th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $166.00 price target (up from $151.00) on shares of Raymond James in a report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $156.09.
View Our Latest Analysis on Raymond James
NYSE:RJF traded up $2.10 during trading hours on Friday, hitting $167.00. The stock had a trading volume of 1,389,160 shares, compared to its average volume of 968,784. The business's 50 day moving average is $160.77 and its 200-day moving average is $136.56. 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 company has a market cap of $34.13 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 0.89 and a beta of 1.02. Raymond James has a one year low of $104.24 and a one year high of $171.38.
Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS 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 for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the business posted $2.13 EPS. The firm's revenue was up 13.4% compared to the same quarter last year. Sell-side analysts anticipate that Raymond James will post 10.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This is a positive change from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. Raymond James's payout ratio is currently 20.60%.
In other Raymond James news, insider Bella Loykhter Allaire sold 3,451 shares of the business'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 transaction, the insider now owns 80,421 shares of the company's stock, valued at $13,319,326.02. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the 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 directly owns 32,688 shares of the company's stock, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is owned by corporate insiders.
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.
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