Bank of New York Mellon Corp Decreases Holdings in Raymond James (NYSE:RJF)

Bank of New York Mellon Corp trimmed its stake in Raymond James (NYSE:RJF) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,249,060 shares of the financial services provider’s stock after selling 55,419 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of Raymond James worth $194,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in Raymond James in the third quarter valued at approximately $34,000. Y.D. More Investments Ltd raised its stake in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Raymond James during the 3rd quarter valued at $37,000. Quarry LP grew its stake in shares of Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the period. Finally, Eastern Bank purchased a new stake in Raymond James in the 4th quarter worth about $68,000. 83.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on RJF. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America lifted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Citigroup increased their target price on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, JMP Securities lifted their price target 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. Nine investment 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $166.09.

Raymond James Trading Up 0.1 %

Shares of RJF stock opened at $151.58 on Friday. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The business’s fifty day moving average is $160.98 and its 200 day moving average is $146.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The company has a market capitalization of $31.06 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, equities research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.32%. Raymond James’s dividend payout ratio is presently 19.51%.

Insider Transactions at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,451 shares of company stock valued at $10,531,255 in the last quarter. Insiders own 0.54% of the company’s stock.

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.