Central Bank & Trust Co. Has $3.53 Million Stock Holdings in Raymond James (NYSE:RJF)

Central Bank & Trust Co. cut its position in Raymond James (NYSE:RJFFree Report) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,469 shares of the financial services provider’s stock after selling 1,970 shares during the period. Central Bank & Trust Co.’s holdings in Raymond James were worth $3,528,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Steph & Co. lifted its position in Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 91 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after buying an additional 96 shares in the last quarter. Oarsman Capital Inc. lifted its position in shares of Raymond James by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock worth $1,200,000 after buying an additional 99 shares in the last quarter. Cardinal Capital Management lifted its position in shares of Raymond James by 0.4% during the 4th quarter. Cardinal Capital Management now owns 28,319 shares of the financial services provider’s stock worth $3,170,000 after buying an additional 118 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Raymond James by 2.0% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,695 shares of the financial services provider’s stock worth $746,000 after buying an additional 129 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Bank of America lowered their price target on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Citigroup lifted their price target on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Morgan Stanley lifted their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $126.22.

Get Our Latest Stock Analysis on Raymond James

Raymond James Stock Performance

Raymond James stock traded up $1.63 during mid-day trading on Friday, reaching $120.69. The company’s stock had a trading volume of 2,491,827 shares, compared to its average volume of 777,597. Raymond James has a 12-month low of $91.67 and a 12-month high of $131.19. The company has a market capitalization of $25.02 billion, a P/E ratio of 14.59, a PEG ratio of 0.81 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. The firm’s fifty day moving average price is $122.69 and its two-hundred day moving average price is $118.67.

Raymond James (NYSE:RJFGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. Sell-side analysts predict that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.45 per share. The ex-dividend date is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.49%. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Raymond James Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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