RBA Wealth Management LLC reduced its position in shares of Raymond James (NYSE:RJF) by 9.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 21,726 shares of the financial services provider’s stock after selling 2,205 shares during the quarter. RBA Wealth Management LLC’s holdings in Raymond James were worth $1,941,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Squar Milner Financial Services LLC boosted its position in shares of Raymond James by 509.8% during the 3rd quarter. Squar Milner Financial Services LLC now owns 311 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Usca Ria LLC bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $27,000. Evoke Wealth LLC bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $28,000. Prime Capital Investment Advisors LLC bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $32,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.
In related news, CAO Jennifer C. Ackart sold 3,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $90.00, for a total transaction of $270,000.00. Following the sale, the chief accounting officer now owns 9,064 shares in the company, valued at approximately $815,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tashtego S. Elwyn sold 3,134 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $89.43, for a total value of $280,273.62. Following the sale, the chief executive officer now owns 28,346 shares in the company, valued at approximately $2,534,982.78. The disclosure for this sale can be found here. Insiders have sold a total of 53,890 shares of company stock worth $4,744,333 in the last 90 days. 10.74% of the stock is currently owned by insiders.
A number of research firms have recently commented on RJF. Credit Suisse Group lowered their target price on Raymond James from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. Morgan Stanley began coverage on Raymond James in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $91.00 target price for the company. ValuEngine upgraded Raymond James from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 3rd. Wells Fargo & Co increased their target price on Raymond James from $92.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Citigroup lowered their target price on Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Raymond James currently has a consensus rating of “Hold” and a consensus price target of $94.29.
NYSE:RJF traded up $1.29 during midday trading on Thursday, hitting $92.84. 62,171 shares of the company traded hands, compared to its average volume of 497,291. The firm’s fifty day moving average is $89.94 and its 200-day moving average is $84.25. Raymond James has a 12-month low of $72.94 and a 12-month high of $92.00. The firm has a market capitalization of $12.46 billion, a P/E ratio of 12.55 and a beta of 1.53. The company has a current ratio of 1.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.42.
Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.01. Raymond James had a return on equity of 16.51% and a net margin of 12.89%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. Raymond James’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Raymond James will post 8.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 1.59%. Raymond James’s payout ratio is presently 20.00%.
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.
Recommended Story: Why do earnings reports matter?
Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJF).
Receive News & Ratings for Raymond James Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James and related companies with MarketBeat.com's FREE daily email newsletter.