CX Institutional Sells 107 Shares of Raymond James (NYSE:RJF)

CX Institutional trimmed its holdings in shares of Raymond James (NYSE:RJF) by 4.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,216 shares of the financial services provider’s stock after selling 107 shares during the period. CX Institutional’s holdings in Raymond James were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RJF. Stratos Wealth Partners LTD. bought a new stake in Raymond James during the fourth quarter worth about $211,000. Empowered Funds LLC increased its stake in shares of Raymond James by 10.4% during the fourth quarter. Empowered Funds LLC now owns 3,828 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 362 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Raymond James by 3.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,212 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 119 shares during the period. Savant Capital LLC increased its stake in shares of Raymond James by 18.6% during the fourth quarter. Savant Capital LLC now owns 2,378 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 373 shares during the period. Finally, Van ECK Associates Corp grew its position in Raymond James by 1.1% during the fourth quarter. Van ECK Associates Corp now owns 21,256 shares of the financial services provider’s stock worth $3,302,000 after buying an additional 235 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider now directly owns 74,586 shares of the company’s stock, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $175.00 target price on shares of Raymond James in a report on Thursday, April 24th. The Goldman Sachs Group reduced their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Bank of America downgraded Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price on the stock. in a report on Wednesday, April 30th. Finally, Citigroup reduced their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $153.82.

Raymond James Stock Down 2.1%

Shares of NYSE RJF opened at $145.48 on Friday. The business has a 50-day simple moving average of $142.57 and a two-hundred day simple moving average of $150.76. The company has a market cap of $29.35 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.90 and a beta of 1.03. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. Research analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. Raymond James’s dividend payout ratio is 19.25%.

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.