Avantax Advisory Services Inc. reduced its stake in shares of Raymond James (NYSE:RJF – Free Report) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 3,345 shares of the financial services provider’s stock after selling 144 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Raymond James were worth $373,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James in the fourth quarter worth about $30,000. Addison Advisors LLC raised its position in shares of Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Raymond James in the 4th quarter valued at approximately $50,000. Headlands Technologies LLC boosted its position in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Raymond James by 52.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares during the period. 83.83% of the stock is currently owned by institutional investors.
Insider Activity at Raymond James
In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. TD Cowen dropped their price objective on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Finally, UBS Group reduced their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $126.22.
Read Our Latest Stock Report on Raymond James
Raymond James Stock Down 0.2 %
Raymond James stock opened at $123.39 on Friday. Raymond James has a 12 month low of $88.81 and a 12 month high of $131.19. The stock has a fifty day simple moving average of $125.14 and a two-hundred day simple moving average of $116.10. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The firm has a market cap of $25.58 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.84 and a beta of 1.03.
Raymond James (NYSE:RJF – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the business posted $2.03 earnings per share. Raymond James’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that Raymond James will post 9.53 EPS for the current fiscal year.
Raymond James Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, June 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.46%. Raymond James’s payout ratio is 21.77%.
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.
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