Citizens Financial Group Inc. RI Lowers Stock Position in Raymond James (NYSE:RJF)

Citizens Financial Group Inc. RI trimmed its position in Raymond James (NYSE:RJF) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,308 shares of the financial services provider’s stock after selling 1,224 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Raymond James were worth $7,504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. Coldstream Capital Management Inc. boosted its position in shares of Raymond James by 1.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 64 shares during the period. CX Institutional lifted its stake in shares of Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after buying an additional 66 shares in the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of Raymond James by 3.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after buying an additional 67 shares in the last quarter. Stablepoint Partners LLC boosted its holdings in Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after buying an additional 73 shares during the period. Finally, Keybank National Association OH increased its stake in Raymond James by 0.7% in the 4th quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock worth $1,747,000 after buying an additional 76 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RJF shares. Citigroup boosted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price objective on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $167.55.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Raymond James Price Performance

Raymond James stock opened at $139.81 on Wednesday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. 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 firm’s fifty day moving average is $159.13 and its 200 day moving average is $148.37. The company has a market cap of $28.65 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.90 and a beta of 1.04.

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

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Tuesday, April 1st. 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.