Raymond James (NYSE:RJF) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its stake in Raymond James (NYSE:RJF) by 15.4% during the 4th quarter, HoldingsChannel reports. The fund owned 26,635 shares of the financial services provider’s stock after selling 4,847 shares during the period. Atria Investments Inc’s holdings in Raymond James were worth $4,137,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp acquired a new stake in shares of Raymond James during the third quarter worth $2,574,000. QRG Capital Management Inc. raised its holdings in shares of Raymond James by 2.2% during the third quarter. QRG Capital Management Inc. now owns 12,223 shares of the financial services provider’s stock worth $1,497,000 after purchasing an additional 267 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Raymond James by 7.5% during the third quarter. Principal Financial Group Inc. now owns 626,866 shares of the financial services provider’s stock worth $76,770,000 after purchasing an additional 43,601 shares during the period. Portside Wealth Group LLC raised its holdings in shares of Raymond James by 3.9% during the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 93 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Raymond James during the third quarter worth $9,193,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of RJF opened at $143.35 on Friday. The firm has a 50-day moving average price of $160.07 and a 200 day moving average price of $147.42. The firm has a market capitalization of $29.37 billion, a PE ratio of 13.99, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, sell-side analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.40%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RJF. Morgan Stanley upped their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Bank of America upped their price target on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, JMP Securities upped their price target on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $167.55.

About Raymond James

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.