Raymond James (NYSE:RJF) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. decreased its position in Raymond James (NYSE:RJF) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,035 shares of the financial services provider’s stock after selling 134 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Raymond James were worth $261,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Raymond James in the fourth quarter valued at approximately $30,000. Smithfield Trust Co raised its holdings in Raymond James by 105.0% in the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares in the last quarter. Covestor Ltd raised its holdings in Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Raymond James in the fourth quarter valued at approximately $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the sale, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was 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 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.

Raymond James Price Performance

Shares of NYSE RJF opened at $112.22 on Thursday. 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 stock has a fifty day moving average price of $119.84 and a 200 day moving average price of $119.90. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The company has a market cap of $23.26 billion, a PE ratio of 13.57, a P/E/G ratio of 0.70 and a beta of 1.02.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $2.03 EPS. Raymond James’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Raymond James will post 9.56 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Analyst Upgrades and Downgrades

RJF has been the topic of several recent analyst reports. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Morgan Stanley increased their price target on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. TD Cowen increased their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Citigroup increased their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group increased their price target on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $129.89.

Raymond James 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.