Raymond James (NYSE:RJF) Stock Holdings Reduced by Barnes Pettey Financial Advisors LLC

Barnes Pettey Financial Advisors LLC reduced its position in Raymond James (NYSE:RJF) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,464 shares of the financial services provider’s stock after selling 3,726 shares during the quarter. Raymond James makes up about 2.9% of Barnes Pettey Financial Advisors LLC’s holdings, making the stock its 7th largest position. Barnes Pettey Financial Advisors LLC’s holdings in Raymond James were worth $3,800,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Mediolanum International Funds Ltd purchased a new stake in shares of Raymond James during the 4th quarter valued at approximately $2,016,000. Swedbank AB lifted its position in shares of Raymond James by 136.1% during the fourth quarter. Swedbank AB now owns 11,576 shares of the financial services provider’s stock worth $1,798,000 after acquiring an additional 6,672 shares in the last quarter. Forsta AP Fonden lifted its position in shares of Raymond James by 7.3% during the fourth quarter. Forsta AP Fonden now owns 38,400 shares of the financial services provider’s stock worth $5,965,000 after acquiring an additional 2,600 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Raymond James by 1,197.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 129,139 shares of the financial services provider’s stock worth $20,059,000 after acquiring an additional 119,186 shares during the period. Finally, Perigon Wealth Management LLC purchased a new position in shares of Raymond James in the fourth quarter valued at $211,000. 83.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is owned by insiders.

Raymond James Stock Performance

Shares of Raymond James stock opened at $170.51 on Friday. The stock has a market cap of $34.85 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm’s 50-day moving average is $162.29 and its 200 day moving average is $139.61.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. Sell-side analysts anticipate that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a 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 (DPR) is presently 19.51%.

Analyst Upgrades and Downgrades

RJF has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday. TD Cowen boosted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $166.09.

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.