Global Retirement Partners LLC Sells 157 Shares of Raymond James (NYSE:RJF)

Global Retirement Partners LLC lessened its position in shares of Raymond James (NYSE:RJF) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,385 shares of the financial services provider’s stock after selling 157 shares during the period. Global Retirement Partners LLC’s holdings in Raymond James were worth $215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in 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 worth $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Raymond James by 12.0% during 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 acquiring an additional 488,245 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in shares of Raymond James by 191.3% during the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Raymond James in the 3rd quarter worth about $34,105,000. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Raymond James in the third quarter worth about $28,985,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RJF. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley lifted their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $166.09.

Insiders Place Their Bets

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was 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 $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is owned by company insiders.

Raymond James Stock Down 0.5 %

Shares of NYSE RJF opened at $150.96 on Wednesday. The business’s fifty day simple moving average is $160.99 and its 200-day simple moving average is $146.16. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The stock has a market cap of $30.93 billion, a P/E ratio of 14.73, a PEG ratio of 0.90 and a beta of 1.03.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid 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 1.32%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

About Raymond James

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.