Pinnacle Wealth Planning Services Inc. Sells 660 Shares of Raymond James (NYSE:RJF)

Pinnacle Wealth Planning Services Inc. cut its stake in shares of Raymond James (NYSE:RJF) by 31.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,451 shares of the financial services provider’s stock after selling 660 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Raymond James were worth $225,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RJF. Gladius Capital Management LP purchased a new position in Raymond James during the third quarter worth about $34,000. Y.D. More Investments Ltd boosted its stake in shares of Raymond James by 121.0% in the 4th 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 during the last quarter. Peterson Financial Group Inc. bought a new position in shares of Raymond James in the third quarter valued at approximately $37,000. Plato Investment Management Ltd increased its position in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares during the last quarter. Finally, Quarry LP lifted its holdings in Raymond James by 80.3% during the third 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. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Performance

NYSE:RJF opened at $143.35 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $160.07 and its two-hundred day moving average price is $147.42. The stock has a market cap of $29.37 billion, a P/E ratio of 13.99, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) 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 19.71%. As a group, equities analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.40%. Raymond James’s dividend payout ratio is 19.51%.

Analyst Ratings Changes

A number of brokerages have issued reports on RJF. Bank of America upped their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities increased their target price 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 raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.55.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.