Raymond James (NYSE:RJF) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its stake in Raymond James (NYSE:RJF) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,052 shares of the financial services provider’s stock after selling 2,729 shares during the quarter. Apollon Wealth Management LLC’s holdings in Raymond James were worth $2,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC boosted its position in Raymond James by 3,960.0% in 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 in 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 boosted its holdings in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Raymond James during the third quarter valued at $37,000. Finally, Quarry LP increased its holdings in 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 buying an additional 187 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup increased 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. TD Cowen increased their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. JMP Securities increased their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $166.09.

Raymond James Trading Down 0.6 %

Shares of RJF opened at $167.46 on Monday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The stock has a market cap of $34.22 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The firm’s fifty day moving average is $162.09 and its two-hundred day moving average is $142.28. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last posted its quarterly earnings results 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%. Research analysts forecast that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Raymond James’s dividend payout ratio is 19.51%.

Insider Activity at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated 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 transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is currently owned by insiders.

Raymond James Company 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.