Cullen Investment Group LTD. Sells 832 Shares of Raymond James (NYSE:RJF)

Cullen Investment Group LTD. decreased its stake in shares of Raymond James (NYSE:RJF) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 28,010 shares of the financial services provider’s stock after selling 832 shares during the quarter. Cullen Investment Group LTD.’s holdings in Raymond James were worth $4,351,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Wolff Wiese Magana LLC increased its stake in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the period. Quarry LP bought a new stake in shares of Raymond James during the second quarter valued at approximately $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the third quarter valued at $32,000. Gladius Capital Management LP bought a new position in Raymond James in the third quarter worth $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in Raymond James during the third quarter worth $37,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. TD Cowen lifted their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. JMP Securities boosted their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus price target of $156.18.

Raymond James Stock Up 0.0 %

Shares of RJF opened at $154.23 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 0.91 and a beta of 1.02. The stock has a fifty day moving average of $160.21 and a 200-day moving average of $135.54.

Raymond James (NYSE:RJF) last posted its quarterly earnings data 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 company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 earnings per share. As a group, sell-side analysts anticipate that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, January 2nd. Raymond James’s payout ratio is currently 20.60%.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction 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 transaction, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 over the last three months. Corporate insiders own 9.74% of the company’s stock.

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.