Raymond James (NYSE:RJF) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Raymond James (NYSE:RJF) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,855 shares of the financial services provider’s stock after selling 5,177 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Raymond James were worth $4,023,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AGF Management Ltd. raised its position in Raymond James by 17.2% during the 2nd quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider’s stock worth $318,972,000 after buying an additional 378,033 shares during the last quarter. Earnest Partners LLC raised its holdings in Raymond James by 1.5% during the second quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider’s stock worth $309,689,000 after purchasing an additional 37,173 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Raymond James by 1.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider’s stock valued at $273,919,000 after purchasing an additional 25,494 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Raymond James by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider’s stock valued at $250,238,000 after purchasing an additional 113,826 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in Raymond James by 2.1% in the 2nd quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider’s stock valued at $216,153,000 after purchasing an additional 38,695 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,621 shares of company stock valued at $9,134,788 in the last quarter. 9.74% of the stock is currently owned by company insiders.

Raymond James Stock Down 0.9 %

RJF opened at $165.48 on Wednesday. The business’s fifty day simple moving average is $145.46 and its 200 day simple moving average is $127.69. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The firm has a market cap of $33.76 billion, a P/E ratio of 17.04, a PEG ratio of 0.97 and a beta of 1.00. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 earnings per share. As a group, equities research analysts anticipate that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.50 dividend. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.21%. Raymond James’s payout ratio is 18.54%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RJF. Wells Fargo & Company raised their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group raised their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. TD Cowen upped their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley raised 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 note on Tuesday, October 29th. Finally, JMP Securities upped their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $140.91.

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.