Private Capital Management LLC Sells 3,432 Shares of Raymond James (NYSE:RJF)

Private Capital Management LLC lessened its holdings in Raymond James (NYSE:RJF) by 5.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 59,885 shares of the financial services provider’s stock after selling 3,432 shares during the period. Raymond James accounts for approximately 1.5% of Private Capital Management LLC’s portfolio, making the stock its 27th largest position. Private Capital Management LLC’s holdings in Raymond James were worth $7,334,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of Raymond James in the 3rd quarter worth $34,000. Y.D. More Investments Ltd lifted its holdings in shares of Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Raymond James in the third quarter worth about $37,000. Quarry LP increased its stake in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new stake in Raymond James during the fourth quarter worth approximately $68,000. Institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other Raymond James news, 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 transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred 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 directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,451 shares of company stock valued at $10,531,255 over the last three months. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JMP Securities lifted their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Citigroup increased their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company increased their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target of $166.09.

Raymond James Stock Performance

Shares of NYSE:RJF opened at $151.58 on Friday. The firm’s 50 day simple moving average is $160.98 and its 200-day simple moving average is $146.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. Raymond James has a one year low of $104.24 and a one year high of $174.32. The firm has a market cap of $31.06 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, equities analysts predict that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Raymond James’s payout ratio is currently 19.51%.

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.