Raymond James (NYSE:RJF) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC cut its stake in shares of Raymond James (NYSE:RJF) by 33.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,687 shares of the financial services provider’s stock after selling 9,415 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Raymond James were worth $2,903,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Raymond James by 31.4% during the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. State Street Corp raised 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 valued at $976,587,000 after purchasing an additional 54,265 shares during the last quarter. JPMorgan Chase & Co. grew its position in Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after purchasing an additional 488,245 shares during the last quarter. Geode Capital Management LLC grew its position in Raymond James by 0.3% during 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 purchasing an additional 12,869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Raymond James by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock valued at $130,340,000 after purchasing an additional 7,121 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RJF has been the topic of a number of research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $166.00 price target (up previously from $151.00) on shares of Raymond James in a report on Tuesday, January 7th. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company dropped their target price on Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $156.09.

Raymond James Stock Performance

RJF opened at $172.67 on Monday. The stock’s 50 day simple moving average is $161.67 and its 200 day simple moving average is $138.47. The stock has a market cap of $35.29 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.04 and a beta of 1.02. Raymond James has a 1-year low of $104.24 and a 1-year high of $173.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is 20.60%.

Insider Buying and Selling

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,319,326.02. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last three months. Corporate insiders own 0.54% of the company’s stock.

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.