Raymond James (NYSE:RJF) Holdings Decreased by SPC Financial Inc.

SPC Financial Inc. reduced its stake in shares of Raymond James (NYSE:RJF) by 5.6% during the first quarter, Holdings Channel.com reports. The firm owned 16,850 shares of the financial services provider’s stock after selling 1,000 shares during the period. SPC Financial Inc.’s holdings in Raymond James were worth $2,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RJF. Norges Bank bought a new stake in shares of Raymond James during the fourth quarter valued at about $238,830,000. Dimensional Fund Advisors LP raised its stake in shares of Raymond James by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock valued at $204,335,000 after purchasing an additional 263,687 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Raymond James by 2.2% during the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after purchasing an additional 246,349 shares in the last quarter. Sei Investments Co. raised its stake in shares of Raymond James by 27.4% during the fourth quarter. Sei Investments Co. now owns 809,626 shares of the financial services provider’s stock valued at $90,273,000 after purchasing an additional 174,286 shares in the last quarter. Finally, Avity Investment Management Inc. bought a new stake in shares of Raymond James during the first quarter valued at about $18,548,000. 83.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on RJF. Citigroup boosted their price target on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods dropped their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Jefferies Financial Group boosted their price target on shares of Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research report on Monday. Morgan Stanley boosted their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, TD Cowen boosted their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $129.89.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Raymond James news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the business’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 value of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James Trading Up 0.8 %

NYSE RJF traded up $0.91 on Thursday, hitting $120.70. 1,502,099 shares of the company were exchanged, compared to its average volume of 1,017,091. The company’s 50 day moving average price is $122.09 and its 200-day moving average price is $119.72. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The firm has a market capitalization of $25.02 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.80 and a beta of 1.02. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. Raymond James’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. Analysts predict that Raymond James will post 9.54 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 annualized dividend and a yield of 1.49%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

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.