Systematic Financial Management LP Cuts Stock Holdings in Raymond James (NYSE:RJF)

Systematic Financial Management LP decreased its stake in shares of Raymond James (NYSE:RJF) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,561 shares of the financial services provider’s stock after selling 180 shares during the period. Systematic Financial Management LP’s holdings in Raymond James were worth $4,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. boosted its position in Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Raymond James in the fourth quarter worth $105,701,000. J.W. Cole Advisors Inc. purchased a new position in Raymond James in the fourth quarter worth $511,000. Proficio Capital Partners LLC purchased a new position in Raymond James in the fourth quarter worth $21,334,000. Finally, UMB Bank n.a. boosted its position in Raymond James by 7,238.7% in the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after purchasing an additional 44,735 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Raymond James Stock Performance

NYSE:RJF opened at $153.93 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The firm has a market cap of $31.06 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.90 and a beta of 1.02. The business’s fifty day moving average is $139.29 and its 200 day moving average is $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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Cowen reissued a “hold” rating on shares of Raymond James in a research report on Thursday, April 24th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley boosted their target price 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. Citigroup lowered their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Bank of America lowered Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price on the stock. in a research note on Wednesday, April 30th. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $153.82.

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.