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

Citizens Financial Group Inc. RI lessened its stake in Raymond James (NYSE:RJF) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,377 shares of the financial services provider’s stock after selling 1,488 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Raymond James were worth $5,729,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares during the period. Earnest Partners LLC raised its stake in shares of Raymond James by 4.8% in the 3rd quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after acquiring an additional 98,664 shares during the period. Northern Trust Corp raised its stake in shares of Raymond James by 2.5% in the 3rd quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock valued at $209,155,000 after acquiring an additional 51,239 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Raymond James by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,368,766 shares of the financial services provider’s stock valued at $137,465,000 after acquiring an additional 15,227 shares during the period. Finally, Ceredex Value Advisors LLC raised its stake in shares of Raymond James by 8.6% in the 3rd quarter. Ceredex Value Advisors LLC now owns 768,046 shares of the financial services provider’s stock valued at $77,455,000 after acquiring an additional 60,728 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Down 0.1 %

Shares of RJF traded down $0.09 during midday trading on Friday, hitting $121.86. The company had a trading volume of 1,197,930 shares, compared to its average volume of 1,139,872. The company’s 50 day moving average price is $123.10 and its 200 day moving average price is $112.50. The stock has a market cap of $25.47 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.85 and a beta of 1.05. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. Raymond James’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 EPS. On average, equities research analysts predict that Raymond James will post 9.45 EPS for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is currently 21.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. UBS Group dropped their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Bank of America dropped their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $126.22.

Insider Activity

In other Raymond James news, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

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.