Vaughan Nelson Investment Management L.P. Sells 107,084 Shares of Raymond James (NYSE:RJF)

Vaughan Nelson Investment Management L.P. reduced its holdings in shares of Raymond James (NYSE:RJF) by 31.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 228,301 shares of the financial services provider’s stock after selling 107,084 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.11% of Raymond James worth $29,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James during the 1st quarter worth approximately $33,000. Turtle Creek Wealth Advisors LLC bought a new stake in Raymond James during the 4th quarter valued at $30,000. OLD Point Trust & Financial Services N A bought a new stake in Raymond James during the 4th quarter valued at $33,000. CVA Family Office LLC bought a new stake in Raymond James during the 4th quarter valued at $50,000. Finally, Addison Advisors LLC raised its position in Raymond James by 32.7% during the 4th quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 136 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America decreased their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. TD Cowen decreased their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Morgan Stanley lifted their price target on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods cut their price target 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. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $126.22.

Raymond James Stock Down 0.9 %

Shares of RJF stock opened at $122.08 on Wednesday. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The stock’s fifty day moving average price is $122.53 and its 200 day moving average price is $119.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the firm earned $2.03 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.47%. Raymond James’s dividend payout ratio is currently 21.77%.

Insiders Place Their Bets

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

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.