Andra AP fonden Sells 53,900 Shares of Raymond James (NYSE:RJF)

Andra AP fonden trimmed its position in shares of Raymond James (NYSE:RJF) by 94.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,100 shares of the financial services provider’s stock after selling 53,900 shares during the period. Andra AP fonden’s holdings in Raymond James were worth $482,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new position in Raymond James during the 4th quarter valued at about $611,000. Candriam S.C.A. grew its stake in Raymond James by 29.7% in the 4th quarter. Candriam S.C.A. now owns 20,810 shares of the financial services provider’s stock worth $3,232,000 after acquiring an additional 4,767 shares in the last quarter. Inceptionr LLC grew its stake in Raymond James by 26.9% in the 4th quarter. Inceptionr LLC now owns 10,534 shares of the financial services provider’s stock worth $1,636,000 after acquiring an additional 2,231 shares in the last quarter. Raymond James Financial Inc. bought a new position in Raymond James in the 4th quarter worth about $105,701,000. Finally, Arizona State Retirement System grew its stake in Raymond James by 0.7% in the 4th quarter. Arizona State Retirement System now owns 56,826 shares of the financial services provider’s stock worth $8,827,000 after acquiring an additional 410 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on RJF shares. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley upped their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Citigroup upped their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.55.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

Raymond James Trading Down 0.3 %

NYSE:RJF opened at $143.35 on Monday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The firm has a 50 day moving average of $159.80 and a 200 day moving average of $148.06. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $29.37 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.90 and a beta of 1.04.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, sell-side analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. Raymond James’s payout ratio is 19.51%.

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.