Canandaigua National Bank & Trust Co. Sells 137 Shares of Raymond James (NYSE:RJF)

Canandaigua National Bank & Trust Co. cut its position in shares of Raymond James (NYSE:RJF) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,856 shares of the financial services provider’s stock after selling 137 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Raymond James were worth $288,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Wolff Wiese Magana LLC raised its stake in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Quarry LP bought a new stake in Raymond James in the second quarter valued at about $29,000. Future Financial Wealth Managment LLC acquired a new position in Raymond James in the third quarter worth about $32,000. Gladius Capital Management LP bought a new position in Raymond James during the third quarter worth about $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in Raymond James during the third quarter valued at approximately $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This represents a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 over the last ninety days. Company insiders own 9.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the company from $161.00 to $185.00 in a research note on Monday. Wells Fargo & Company restated an “equal weight” rating and issued a $169.00 target price (up previously from $152.00) on shares of Raymond James in a research note on Thursday, December 12th. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, JMP Securities lifted their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.91.

Raymond James Stock Up 1.1 %

NYSE:RJF opened at $159.39 on Tuesday. The company has a market cap of $32.52 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 0.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The stock’s fifty day moving average price is $159.21 and its two-hundred day moving average price is $134.29. Raymond James has a 52-week low of $104.24 and a 52-week high of $171.38.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.13 earnings per share. On average, analysts anticipate that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James’s payout ratio is 20.60%.

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.