Russell Investments Group Ltd. Has $41.93 Million Stake in Raymond James (NYSE:RJF)

Russell Investments Group Ltd. trimmed its holdings in shares of Raymond James (NYSE:RJF – Get Rating) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 424,486 shares of the financial services provider’s stock after selling 10,870 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of Raymond James worth $41,932,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Ieq Capital LLC increased its position in Raymond James by 22.1% during the third quarter. Ieq Capital LLC now owns 4,721 shares of the financial services provider’s stock worth $467,000 after buying an additional 856 shares during the last quarter. First Republic Investment Management Inc. increased its position in Raymond James by 5.3% during the third quarter. First Republic Investment Management Inc. now owns 45,246 shares of the financial services provider’s stock worth $4,471,000 after buying an additional 2,262 shares during the last quarter. CIBC Asset Management Inc increased its position in Raymond James by 9.6% during the third quarter. CIBC Asset Management Inc now owns 26,125 shares of the financial services provider’s stock worth $2,582,000 after buying an additional 2,287 shares during the last quarter. Creative Planning grew its position in shares of Raymond James by 14.4% in the third quarter. Creative Planning now owns 49,996 shares of the financial services provider’s stock valued at $4,941,000 after purchasing an additional 6,303 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Raymond James in the third quarter valued at about $218,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Raymond James news, insider George Catanese sold 3,489 shares of the firm’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $114.02, for a total transaction of $397,815.78. Following the completion of the transaction, the insider now owns 11,862 shares in the company, valued at $1,352,505.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Paul C. Reilly sold 24,016 shares of Raymond James stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $111.27, for a total value of $2,672,260.32. Following the completion of the transaction, the chief executive officer now owns 267,499 shares in the company, valued at $29,764,613.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider George Catanese sold 3,489 shares of Raymond James stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $114.02, for a total transaction of $397,815.78. Following the completion of the transaction, the insider now owns 11,862 shares of the company’s stock, valued at approximately $1,352,505.24. The disclosure for this sale can be found here. Corporate insiders own 9.46% of the company’s stock.

Raymond James Stock Up 0.7 %

NYSE RJF opened at $117.00 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.98. The firm has a 50-day simple moving average of $112.97 and a 200 day simple moving average of $108.01. Raymond James has a twelve month low of $84.86 and a twelve month high of $126.00. The stock has a market cap of $25.29 billion, a PE ratio of 16.76 and a beta of 1.06.

Raymond James (NYSE:RJF – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Raymond James had a net margin of 13.35% and a return on equity of 17.68%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 earnings per share. On average, research analysts forecast that Raymond James will post 9.39 EPS for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd were paid a dividend of $0.42 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is currently 24.07%.

Wall Street Analyst Weigh In

RJF has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price target on Raymond James from $120.00 to $126.00 and gave the company a “market perform” rating in a research report on Thursday, January 12th. The Goldman Sachs Group lowered their price target on Raymond James from $148.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, January 4th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Thursday, November 24th. Credit Suisse Group lowered their price target on Raymond James to $118.00 in a research report on Friday, November 4th. Finally, Citigroup assumed coverage on Raymond James in a research report on Tuesday, October 11th. They issued a “neutral” rating and a $117.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.14.

Raymond James Profile

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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.