Mutual of America Capital Management LLC Lowers Position in Raymond James (NYSE:RJF)

Mutual of America Capital Management LLC cut its holdings in Raymond James (NYSE:RJF) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,220 shares of the financial services provider’s stock after selling 2,050 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Raymond James were worth $3,704,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RJF. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James in the fourth quarter worth about $30,000. Advisors Asset Management Inc. acquired a new position in Raymond James in the 3rd quarter worth approximately $30,000. Covestor Ltd increased its holdings in Raymond James by 77.1% in the 1st quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after buying an additional 138 shares during the period. Clear Street Markets LLC boosted its position in Raymond James by 95.9% in the 1st quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 187 shares in the last quarter. Finally, Addison Advisors LLC boosted its position in Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares in the company, valued at approximately $98,711.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares in the company, valued at approximately $98,711.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RJF. UBS Group decreased their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Jefferies Financial Group reissued a “hold” rating and set a $117.00 price objective (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Citigroup raised their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $110.00 to $135.00 in a research note on Wednesday, January 10th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average price target of $123.88.

Raymond James Trading Down 0.6 %

RJF opened at $121.82 on Wednesday. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. The business’s 50 day moving average is $121.75 and its two-hundred day moving average is $111.25. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.25 by $0.15. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, research analysts predict that Raymond James will post 9.36 EPS for the current year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio (DPR) is 22.56%.

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.