Amalgamated Bank Sells 1,296 Shares of Raymond James (NYSE:RJF)

Amalgamated Bank decreased its holdings in Raymond James (NYSE:RJF) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 35,325 shares of the financial services provider’s stock after selling 1,296 shares during the period. Amalgamated Bank’s holdings in Raymond James were worth $5,487,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC grew its stake in Raymond James by 44,291.7% during the third quarter. International Assets Investment Management LLC now owns 10,654 shares of the financial services provider’s stock worth $1,305,000 after purchasing an additional 10,630 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Raymond James by 468.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 27,576 shares of the financial services provider’s stock worth $3,377,000 after buying an additional 22,728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Raymond James by 25.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,154 shares of the financial services provider’s stock valued at $1,978,000 after acquiring an additional 3,282 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Raymond James by 23.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 38,359 shares of the financial services provider’s stock valued at $4,698,000 after acquiring an additional 7,338 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Raymond James by 5.8% during the third quarter. Nisa Investment Advisors LLC now owns 92,822 shares of the financial services provider’s stock worth $11,367,000 after acquiring an additional 5,100 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RJF shares. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup upped their target price on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Bank of America increased their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $166.09.

Raymond James Stock Up 0.1 %

Raymond James stock opened at $151.58 on Friday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm’s 50-day simple moving average is $160.98 and its 200 day simple moving average is $146.24. The stock has a market cap of $31.06 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st 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 1.32%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,451 shares of company stock valued at $10,531,255. 0.54% of the stock is 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.