Raymond James (NYSE:RJF) Stake Lessened by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB trimmed its position in shares of Raymond James (NYSE:RJF) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,450 shares of the financial services provider’s stock after selling 650 shares during the period. E. Ohman J or Asset Management AB’s holdings in Raymond James were worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RJF. Wellington Management Group LLP raised its holdings in shares of Raymond James by 31.4% during the third 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. JPMorgan Chase & Co. raised its holdings in shares of Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of Raymond James by 191.3% during the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after acquiring an additional 474,443 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Raymond James during the third quarter worth $34,105,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of Raymond James during the third quarter worth $28,985,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock worth $10,729,488 over the last quarter. Company insiders own 0.54% of the company’s stock.

Raymond James Stock Up 0.6 %

RJF stock opened at $165.67 on Thursday. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a market cap of $33.86 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The business’s 50-day simple moving average is $162.16 and its 200 day simple moving average is $141.27. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. On average, research analysts anticipate that Raymond James will post 11.16 earnings per share for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 1.21%. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RJF. JPMorgan Chase & Co. increased their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and raised their target price for the company from $161.00 to $185.00 in a report on Monday, January 6th. TD Cowen raised their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $166.09.

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.