Raymond James (NYSE:RJF) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its holdings in Raymond James (NYSE:RJF) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,076 shares of the financial services provider’s stock after selling 317 shares during the period. Congress Wealth Management LLC DE owned about 0.06% of Raymond James worth $15,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Steph & Co. raised its stake in Raymond James by 9.3% in the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after buying an additional 91 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Raymond James by 12.4% during the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 96 shares during the last quarter. Oarsman Capital Inc. grew its holdings in shares of Raymond James by 0.9% during the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 99 shares during the last quarter. Cardinal Capital Management grew its holdings in shares of Raymond James by 0.4% during the fourth quarter. Cardinal Capital Management now owns 28,319 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 118 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Raymond James by 2.0% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,695 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 129 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Raymond James Price Performance

Shares of RJF opened at $123.20 on Tuesday. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The stock’s 50 day moving average is $122.63 and its two-hundred day moving average is $119.37. The firm has a market capitalization of $25.54 billion, a PE ratio of 14.90, a P/E/G ratio of 0.84 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the firm posted $2.03 EPS. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts anticipate that Raymond James will post 9.55 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, July 1st. Raymond James’s dividend payout ratio is presently 21.77%.

Wall Street Analyst Weigh In

RJF has been the topic of several research reports. Citigroup raised their price objective on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley raised their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Finally, TD Cowen lowered their price target on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $126.22.

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.