MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Position in Raymond James (NYSE:RJF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in shares of Raymond James (NYSE:RJF) by 24.2% during the 4th quarter, Holdings Channel reports. The firm owned 374,068 shares of the financial services provider’s stock after selling 119,661 shares during the period. Raymond James comprises 1.8% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 15th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Raymond James were worth $58,104,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its holdings in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the period. Quarry LP purchased a new stake in shares of Raymond James during the second quarter worth about $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 3rd quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in Raymond James in the 3rd quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’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 value of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock worth $10,729,488 in the last quarter. 0.54% of the stock is owned by company insiders.

Raymond James Trading Up 0.6 %

RJF stock opened at $171.49 on Friday. Raymond James has a twelve month low of $104.24 and a twelve month high of $173.15. The stock has a market capitalization of $35.04 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $161.43 and its two-hundred day simple moving average is $137.82.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 EPS. As a group, analysts anticipate that Raymond James will post 11.02 earnings per share for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 20.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $166.00 target price (up previously from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company reduced their price objective on Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Citigroup increased their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $156.09.

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.