Rhumbline Advisers Reduces Stake in Raymond James (NYSE:RJF)

Rhumbline Advisers lowered its stake in Raymond James (NYSE:RJF) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,368 shares of the financial services provider’s stock after selling 9,735 shares during the period. Rhumbline Advisers owned approximately 0.16% of Raymond James worth $51,627,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Raymond James by 31.4% during 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 488,245 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in shares of Raymond James by 191.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock worth $88,464,000 after acquiring an additional 474,443 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Raymond James during the 3rd quarter worth about $34,105,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in Raymond James in the 3rd quarter valued at about $28,985,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Citigroup boosted their price target 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. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. boosted their price target on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” 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 upped their target price for the company from $161.00 to $185.00 in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Raymond James has an average rating of “Hold” and an average target price of $166.09.

Raymond James Stock Down 0.5 %

RJF stock opened at $159.63 on Tuesday. The company’s 50 day simple moving average is $161.63 and its 200-day simple moving average is $144.19. The firm has a market capitalization of $32.62 billion, a PE ratio of 15.57, a P/E/G ratio of 0.98 and a beta of 1.03. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. 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 (NYSE:RJF) last announced its quarterly earnings data 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 19.99%. Equities analysts expect that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed 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 represents a $2.00 annualized dividend and a dividend yield of 1.25%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is presently 19.51%.

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.