Raymond James (NYSE:RJF) Shares Sold by Palmer Knight Co

Palmer Knight Co cut its holdings in Raymond James (NYSE:RJF) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 62,508 shares of the financial services provider’s stock after selling 147 shares during the quarter. Raymond James makes up approximately 4.2% of Palmer Knight Co’s holdings, making the stock its 5th biggest holding. Palmer Knight Co’s holdings in Raymond James were worth $6,970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Wellington Management Group LLP lifted its stake 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 valued at $1,161,981,000 after acquiring an additional 246,349 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Raymond James by 269.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 258,122 shares of the financial services provider’s stock valued at $25,923,000 after buying an additional 188,305 shares during the period. Clearbridge Investments LLC acquired a new position in Raymond James in the 3rd quarter valued at approximately $12,737,000. Envestnet Asset Management Inc. raised its position in Raymond James by 33.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 472,904 shares of the financial services provider’s stock worth $47,494,000 after purchasing an additional 117,672 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in Raymond James during the 3rd quarter worth about $10,633,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley upped their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods cut their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday. TD Cowen decreased their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a report on Thursday. Finally, UBS Group reduced their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Raymond James has a consensus rating of “Hold” and a consensus price target of $126.22.

Insider Activity at Raymond James

In other Raymond James news, Director Art A. Garcia bought 879 shares of Raymond James stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.74% of the stock is currently owned by company insiders.

Raymond James Stock Performance

NYSE RJF traded up $1.01 during trading hours on Monday, reaching $122.87. 290,265 shares of the company were exchanged, compared to its average volume of 1,068,651. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $25.68 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.85 and a beta of 1.05. Raymond James has a 1 year low of $82.00 and a 1 year high of $131.19. The business’s 50 day simple moving average is $123.10 and its 200-day simple moving average is $112.67.

Raymond James (NYSE:RJF) last posted its quarterly earnings data 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 net margin of 12.72% and a return on equity of 18.24%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 EPS. On average, equities research analysts expect that Raymond James will post 9.37 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

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.