Raymond James (NYSE:RJF) Position Reduced by Geneva Capital Management LLC

Geneva Capital Management LLC reduced its holdings in Raymond James (NYSE:RJF) by 3.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 127,991 shares of the financial services provider’s stock after selling 4,742 shares during the period. Geneva Capital Management LLC’s holdings in Raymond James were worth $14,271,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Raymond James by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock worth $1,161,981,000 after acquiring an additional 246,349 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Raymond James by 269.7% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider’s stock worth $25,923,000 after acquiring an additional 188,305 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Raymond James in the 3rd quarter worth about $12,737,000. Envestnet Asset Management Inc. increased its holdings in shares of Raymond James by 33.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 472,904 shares of the financial services provider’s stock worth $47,494,000 after acquiring an additional 117,672 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Raymond James in the 3rd quarter worth about $10,633,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction that occurred 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 transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction that occurred 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 disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on RJF shares. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. TD Cowen lowered their target price on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Bank of America lowered their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. UBS Group lowered their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Finally, JMP Securities reissued a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.22.

Raymond James Price Performance

Shares of RJF traded up $0.18 during mid-day trading on Friday, hitting $125.34. The company’s stock had a trading volume of 64,640 shares, compared to its average volume of 1,047,123. The firm has a 50-day moving average price of $124.10 and a 200 day moving average price of $114.05. The stock has a market capitalization of $26.20 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. Raymond James has a fifty-two week low of $84.06 and a fifty-two week high of $131.19.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business earned $2.03 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Raymond James will post 9.56 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 21.77%.

Raymond James Company 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.