Skylands Capital LLC Sells 600 Shares of Raymond James (NYSE:RJF)

Skylands Capital LLC lessened its holdings in shares of Raymond James (NYSE:RJF) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,474 shares of the financial services provider’s stock after selling 600 shares during the quarter. Skylands Capital LLC’s holdings in Raymond James were worth $833,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Eagle Wealth Strategies LLC purchased a new position in shares of Raymond James during the fourth quarter valued at approximately $225,000. Stonebrook Private Inc. bought a new position in Raymond James during the 4th quarter valued at $342,000. Russell Investments Group Ltd. boosted its holdings in Raymond James by 2.1% during the 4th quarter. Russell Investments Group Ltd. now owns 154,864 shares of the financial services provider’s stock worth $17,296,000 after acquiring an additional 3,257 shares during the last quarter. Addison Advisors LLC grew its stake in shares of Raymond James by 32.7% in the 4th quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 136 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Raymond James in the fourth quarter valued at about $674,000. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Up 1.1 %

Shares of RJF stock opened at $123.19 on Tuesday. Raymond James has a 1 year low of $82.00 and a 1 year high of $131.19. The company’s fifty day simple moving average is $123.20 and its two-hundred day simple moving average is $112.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The stock has a market capitalization of $25.75 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.85 and a beta of 1.05.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted $2.03 EPS. As a group, analysts anticipate that Raymond James will post 9.37 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.46%. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group reduced their target price on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. Keefe, Bruyette & Woods reduced their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Bank of America lowered their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $117.00 target price (up from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $126.22.

Insider Activity at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

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.