Siemens Fonds Invest GmbH Sells 28,404 Shares of Raymond James (NYSE:RJF)

Siemens Fonds Invest GmbH decreased its stake in Raymond James (NYSE:RJF) by 84.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,391 shares of the financial services provider’s stock after selling 28,404 shares during the period. Siemens Fonds Invest GmbH’s holdings in Raymond James were worth $837,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RJF. TCTC Holdings LLC increased its stake in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd increased its position in shares of Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of Raymond James during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RJF. JPMorgan Chase & Co. cut their target price on Raymond James from $149.00 to $143.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. JMP Securities restated a “market outperform” rating and issued a $175.00 price objective on shares of Raymond James in a report on Thursday, April 24th. The Goldman Sachs Group reduced their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley raised their price objective on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $153.82.

Raymond James Stock Performance

Raymond James stock opened at $153.93 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The firm has a market cap of $31.06 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.90 and a beta of 1.02. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The firm has a 50-day moving average of $139.29 and a 200-day moving average of $152.47.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the business posted $2.31 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Tuesday, April 1st. Raymond James’s payout ratio is currently 19.25%.

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.