Tranquility Partners LLC Sells 1,697 Shares of Raymond James (NYSE:RJF)

Tranquility Partners LLC lowered its holdings in shares of Raymond James (NYSE:RJF) by 24.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,190 shares of the financial services provider’s stock after selling 1,697 shares during the period. Tranquility Partners LLC’s holdings in Raymond James were worth $579,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James during the fourth quarter worth $30,000. Advisors Asset Management Inc. bought a new position in Raymond James during the third quarter worth $30,000. Covestor Ltd raised its stake in Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after buying an additional 138 shares during the last quarter. Clear Street Markets LLC raised its stake in Raymond James by 95.9% during the first quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock worth $36,000 after buying an additional 187 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Art A. Garcia acquired 879 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by corporate insiders.

Raymond James Stock Up 0.1 %

Shares of NYSE RJF traded up $0.16 during mid-day trading on Thursday, reaching $122.10. 93,777 shares of the company’s stock traded hands, compared to its average volume of 1,012,863. The stock has a market cap of $25.52 billion, a P/E ratio of 15.28, a PEG ratio of 0.86 and a beta of 1.05. The business has a 50-day simple moving average of $121.96 and a 200 day simple moving average of $111.32. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19. 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 (NYSE:RJF) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts expect that Raymond James will post 9.36 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company 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 yield of 1.47%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio (DPR) is presently 22.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Citigroup raised 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. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. TD Cowen raised their price target on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $117.00 price target (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and an average price target of $123.88.

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.