Raymond James (NYSE:RJF) Shares Sold by SPC Financial Inc.

SPC Financial Inc. lessened its holdings in shares of Raymond James (NYSE:RJF) by 19.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,450 shares of the financial services provider’s stock after selling 2,800 shares during the period. SPC Financial Inc.’s holdings in Raymond James were worth $1,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of Raymond James by 1.6% during the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the period. Banque Cantonale Vaudoise bought a new position in Raymond James in the 3rd quarter valued at about $3,561,000. J.W. Cole Advisors Inc. bought a new stake in shares of Raymond James during the 4th quarter worth about $511,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after acquiring an additional 7,028 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Raymond James by 7,238.7% in the 4th quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after acquiring an additional 44,735 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JMP Securities boosted their price target on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Bank of America boosted their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Citigroup upped their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $167.55.

Insider Activity

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Raymond James Trading Down 4.3 %

RJF opened at $143.97 on Wednesday. The firm’s fifty day simple moving average is $160.60 and its 200 day simple moving average is $147.46. The stock has a market capitalization of $29.50 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.90 and a beta of 1.03. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend 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.