Edmp Inc. Cuts Stock Position in Raymond James (NYSE:RJF)

Edmp Inc. trimmed its position in shares of Raymond James (NYSE:RJF) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,741 shares of the financial services provider’s stock after selling 442 shares during the quarter. Edmp Inc.’s holdings in Raymond James were worth $270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Raymond James in the 3rd quarter valued at $34,000. Y.D. More Investments Ltd lifted its position in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the period. Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter valued at about $37,000. Finally, Quarry LP increased its holdings in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RJF. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup lifted their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their price target for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $166.09.

Insiders Place Their Bets

In related news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction 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 transaction, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 over the last three months. Company insiders own 0.54% of the company’s stock.

Raymond James Price Performance

Shares of RJF stock opened at $162.32 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market capitalization of $33.17 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The firm’s 50-day moving average is $162.00 and its two-hundred day moving average is $142.59. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

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 19.99%. Analysts predict that Raymond James will post 11.12 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a $0.50 dividend. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, January 2nd. Raymond James’s payout ratio is currently 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.