IFP Advisors Inc Decreases Position in Raymond James (NYSE:RJF)

IFP Advisors Inc decreased its position in Raymond James (NYSE:RJF) by 33.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,661 shares of the financial services provider’s stock after selling 1,342 shares during the quarter. IFP Advisors Inc’s holdings in Raymond James were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after acquiring an additional 2,898,242 shares during the period. State Street Corp increased its position in shares of Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares during the period. JPMorgan Chase & Co. increased its position in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares during the period. Geode Capital Management LLC increased its position in shares of Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock valued at $531,013,000 after acquiring an additional 12,869 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Raymond James by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock valued at $130,340,000 after buying an additional 7,121 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 1.9 %

NYSE:RJF opened at $154.61 on Friday. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The company’s 50-day simple moving average is $160.97 and its 200 day simple moving average is $146.79. The firm has a market capitalization of $31.68 billion, a P/E ratio of 15.08, a PEG ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping 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%. As a group, analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. Raymond James’s dividend payout ratio is presently 19.51%.

Insider Transactions at Raymond James

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 approximately $13,319,326.02. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’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 transaction of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,451 shares of company stock worth $10,531,255. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RJF shares. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities boosted their price target on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Citigroup boosted their price target on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 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 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.