Raymond James (NYSE:RJF) Shares Sold by Center for Financial Planning Inc.

Center for Financial Planning Inc. cut its holdings in shares of Raymond James (NYSE:RJF) by 5.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,106 shares of the financial services provider’s stock after selling 1,240 shares during the period. Raymond James accounts for 0.5% of Center for Financial Planning Inc.’s investment portfolio, making the stock its 17th largest holding. Center for Financial Planning Inc.’s holdings in Raymond James were worth $3,434,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after purchasing an additional 2,898,242 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares during the last quarter. Ceredex Value Advisors LLC grew its position in shares of Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Raymond James in the 3rd quarter valued at $34,105,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Raymond James in the 3rd quarter valued at $28,985,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Down 0.5 %

RJF stock opened at $159.63 on Friday. Raymond James has a one year low of $104.24 and a one year high of $174.32. The stock has a market capitalization of $32.62 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. 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 company has a fifty day moving average of $161.67 and a 200-day moving average of $143.47.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, analysts expect that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. TD Cowen raised their price objective on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, Citigroup raised their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $166.09.

Insider Activity at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 over the last 90 days. Company insiders own 0.54% of the company’s stock.

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.