Raymond James (NYSE:RJF) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. lowered its stake in shares of Raymond James (NYSE:RJF) by 52.6% in the fourth quarter, HoldingsChannel reports. The firm owned 281 shares of the financial services provider’s stock after selling 312 shares during the quarter. Johnson Financial Group Inc.’s holdings in Raymond James were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RJF. Susquehanna Fundamental Investments LLC bought a new stake in Raymond James in the fourth quarter valued at $17,580,000. Virtus ETF Advisers LLC bought a new stake in Raymond James in the 4th quarter valued at about $1,207,000. Lord Abbett & CO. LLC acquired a new position in Raymond James during the 4th quarter valued at about $4,652,000. Kovitz Investment Group Partners LLC grew its position in Raymond James by 2.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,658 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 131 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Raymond James by 32.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 480,948 shares of the financial services provider’s stock valued at $74,707,000 after purchasing an additional 117,049 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of Raymond James 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on RJF shares. Bank of America lifted their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley upped their price objective on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Citigroup lowered their price objective on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company cut their price objective on Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Ten research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $157.64.

Raymond James Price Performance

NYSE RJF opened at $138.19 on Wednesday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The stock’s 50-day moving average price is $139.65 and its two-hundred day moving average price is $151.97. The company has a market cap of $28.32 billion, a PE ratio of 13.48, a PEG ratio of 0.90 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

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

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, April 1st. Raymond James’s dividend 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.