Sherbrooke Park Advisers LLC Has $235,000 Position in Raymond James (NYSE:RJF)

Sherbrooke Park Advisers LLC lessened its holdings in shares of Raymond James (NYSE:RJF) by 34.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,514 shares of the financial services provider’s stock after selling 796 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Raymond James were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Raymond James by 2.2% during the fourth quarter. FMR LLC now owns 6,522,025 shares of the financial services provider’s stock worth $1,013,066,000 after buying an additional 137,277 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Raymond James by 12.0% during 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. Geode Capital Management LLC raised its stake in Raymond James by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider’s stock valued at $680,378,000 after purchasing an additional 40,576 shares during the last quarter. Earnest Partners LLC boosted its holdings in Raymond James by 1.0% in the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider’s stock valued at $393,554,000 after purchasing an additional 24,195 shares during the period. Finally, Invesco Ltd. grew its position in Raymond James by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider’s stock worth $378,276,000 after purchasing an additional 192,904 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 0.2%

RJF opened at $153.59 on Tuesday. The firm has a market cap of $30.99 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.90 and a beta of 1.02. 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 $139.53 and its 200-day simple moving average is $152.56. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James (NYSE:RJF) last issued 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). The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Raymond James’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 earnings per share. Equities research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

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

Insider Activity at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the stock in a transaction 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 owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Raymond James from $149.00 to $143.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group cut their price target on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. JMP Securities reissued a “market outperform” rating and set a $175.00 price objective on shares of Raymond James in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, Bank of America cut Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price for the company. in a research report on Wednesday, April 30th. Eleven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $153.82.

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.