Raymond James (NYSE:RJF) Stock Position Lowered by Principle Wealth Partners LLC

Principle Wealth Partners LLC lessened its position in Raymond James (NYSE:RJF) by 10.1% in the 4th quarter, Holdings Channel reports. The fund owned 2,000 shares of the financial services provider’s stock after selling 225 shares during the period. Principle Wealth Partners LLC’s holdings in Raymond James were worth $311,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. State Street Corp lifted its position in Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock worth $976,587,000 after buying an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Raymond James by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after buying an additional 488,245 shares in the last quarter. Geode Capital Management LLC lifted its position in Raymond James by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after buying an additional 12,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Raymond James by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after buying an additional 7,121 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

NYSE:RJF opened at $162.94 on Wednesday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm’s fifty day simple moving average is $161.95 and its 200 day simple moving average is $142.92. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $33.30 billion, a PE ratio of 15.90, a PEG ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. On average, sell-side analysts anticipate that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RJF shares. Morgan Stanley increased their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, JMP Securities raised their price target on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Raymond James presently has an average rating of “Hold” and an average target price of $166.09.

Insider Activity at Raymond James

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is owned by insiders.

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.