MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Stock Position in Raymond James (NYSE:RJF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in shares of Raymond James (NYSE:RJF) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 374,068 shares of the financial services provider’s stock after selling 119,661 shares during the period. Raymond James comprises 1.8% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 15th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned 0.18% of Raymond James worth $58,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RJF. Franklin Resources Inc. increased its holdings in Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Raymond James during the third quarter valued at approximately $3,561,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after acquiring an additional 7,028 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Raymond James by 109.3% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after acquiring an additional 58,200 shares during the period. Finally, Principal Financial Group Inc. increased its position in Raymond James by 7.5% during the 3rd quarter. Principal Financial Group Inc. now owns 626,866 shares of the financial services provider’s stock valued at $76,770,000 after purchasing an additional 43,601 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RJF. Wells Fargo & Company decreased their price target on shares of Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Citigroup raised their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Bank of America upped their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $166.00 price objective (up previously from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Finally, TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $156.09.

Raymond James Trading Up 0.6 %

NYSE:RJF opened at $171.49 on Friday. The company has a market cap of $35.04 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a 50 day simple moving average of $161.43 and a two-hundred day simple moving average of $137.82. Raymond James has a 12 month low of $104.24 and a 12 month high of $173.15.

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, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.13 earnings per share. Research analysts forecast that Raymond James will post 11.02 earnings per share for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is presently 20.60%.

Insider Transactions at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last quarter. Company insiders own 0.54% of the company’s stock.

Raymond James Company 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.