Guggenheim Capital LLC Sells 3,792 Shares of Raymond James (NYSE:RJF)


Share on StockTwits

Guggenheim Capital LLC lowered its stake in shares of Raymond James (NYSE:RJF) by 23.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,108 shares of the financial services provider’s stock after selling 3,792 shares during the quarter. Guggenheim Capital LLC’s holdings in Raymond James were worth $1,158,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Raymond James by 79.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,336,645 shares of the financial services provider’s stock worth $127,877,000 after acquiring an additional 591,090 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in Raymond James by 1.3% during the 4th quarter. Congress Asset Management Co. MA now owns 1,127,976 shares of the financial services provider’s stock worth $107,913,000 after acquiring an additional 14,892 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Raymond James by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 792,861 shares of the financial services provider’s stock worth $75,854,000 after acquiring an additional 6,615 shares during the last quarter. Eaton Vance Management grew its holdings in Raymond James by 1.2% during the 4th quarter. Eaton Vance Management now owns 720,462 shares of the financial services provider’s stock worth $68,926,000 after acquiring an additional 8,781 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Raymond James by 31.8% during the 3rd quarter. Morgan Stanley now owns 429,989 shares of the financial services provider’s stock worth $31,286,000 after acquiring an additional 103,740 shares during the last quarter. 75.11% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James stock opened at $127.31 on Thursday. The company’s 50 day simple moving average is $120.18 and its 200 day simple moving average is $97.81. Raymond James has a fifty-two week low of $56.56 and a fifty-two week high of $129.60. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 21.87 and a beta of 1.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.98 and a quick ratio of 0.96.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 27th. The financial services provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.56. Raymond James had a net margin of 10.02% and a return on equity of 12.29%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm earned $1.89 EPS. Raymond James’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts predict that Raymond James will post 6.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 1st will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $1.56 annualized dividend and a yield of 1.23%. Raymond James’s dividend payout ratio (DPR) is currently 25.53%.

A number of brokerages have commented on RJF. Wells Fargo & Company raised shares of Raymond James from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $71.00 to $120.00 in a report on Friday, January 15th. Morgan Stanley raised their target price on shares of Raymond James from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, January 29th. Compass Point raised their target price on shares of Raymond James from $80.00 to $102.00 and gave the company a “positive” rating in a research note on Tuesday, December 15th. The Goldman Sachs Group raised shares of Raymond James from a “sell” rating to a “buy” rating and raised their target price for the company from $82.00 to $110.00 in a research note on Tuesday, January 5th. Finally, Wolfe Research raised shares of Raymond James from a “market perform” rating to an “outperform” rating and raised their target price for the company from $89.00 to $111.00 in a research note on Tuesday, January 5th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $117.64.

In other Raymond James news, Chairman Thomas A. James sold 201,982 shares of the firm’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $110.79, for a total transaction of $22,377,585.78. Also, CEO Paul D. Allison sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 1st. The stock was sold at an average price of $100.95, for a total transaction of $706,650.00. Following the sale, the chief executive officer now owns 32,554 shares in the company, valued at $3,286,326.30. The disclosure for this sale can be found here. Insiders have sold a total of 234,213 shares of company stock worth $26,077,638 over the last 90 days. Corporate insiders own 10.82% of the company’s stock.

Raymond James Company 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.

See Also: The limitations of an equal weight rating

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

Receive News & Ratings for Raymond James Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James and related companies with MarketBeat.com's FREE daily email newsletter.