XTX Topco Ltd Sells 1,337 Shares of Raymond James (NYSE:RJF)

XTX Topco Ltd reduced its position in shares of Raymond James (NYSE:RJF) by 16.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,014 shares of the financial services provider’s stock after selling 1,337 shares during the quarter. XTX Topco Ltd’s holdings in Raymond James were worth $859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RJF. Cetera Advisors LLC raised its holdings in Raymond James by 89.9% during the 1st quarter. Cetera Advisors LLC now owns 3,475 shares of the financial services provider’s stock valued at $446,000 after buying an additional 1,645 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Raymond James by 15.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,496 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 343 shares in the last quarter. Wedmont Private Capital bought a new position in Raymond James in the 2nd quarter worth $204,000. Wealth Enhancement Advisory Services LLC raised its holdings in Raymond James by 105.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock worth $3,834,000 after purchasing an additional 15,940 shares in the last quarter. Finally, Great Valley Advisor Group Inc. raised its holdings in Raymond James by 2.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 3,972 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 112 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,621 shares of company stock valued at $9,134,788 in the last 90 days. 9.74% of the stock is currently owned by insiders.

Raymond James Stock Performance

Shares of RJF stock opened at $160.91 on Wednesday. Raymond James has a one year low of $104.24 and a one year high of $171.38. The company’s 50-day moving average is $150.32 and its 200 day moving average is $129.34. The company has a market capitalization of $32.83 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the prior year, the firm posted $2.13 EPS. Raymond James’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts expect that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is presently 20.60%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RJF. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Morgan Stanley upped 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. Bank of America upped their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their target price on shares of Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $140.91.

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.