Harrell Investment Partners LLC Sells 210 Shares of Raymond James (NYSE:RJF)

Harrell Investment Partners LLC cut its stake in shares of Raymond James (NYSE:RJF) by 4.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,140 shares of the financial services provider’s stock after selling 210 shares during the quarter. Harrell Investment Partners LLC’s holdings in Raymond James were worth $643,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RJF. Wellington Management Group LLP increased its holdings in Raymond James by 31.4% in the 3rd quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after purchasing an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after purchasing an additional 488,245 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in shares of Raymond James by 191.3% in the third quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after buying an additional 474,443 shares during the period. Two Sigma Advisers LP bought a new position in Raymond James in the 3rd quarter valued at approximately $34,105,000. Finally, Worldquant Millennium Advisors LLC acquired a new stake in Raymond James during the 3rd quarter worth approximately $28,985,000. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RJF shares. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and upped their price target for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Wells Fargo & Company lowered their target price on Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Bank of America increased their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and an average price target of $156.09.

Raymond James Stock Up 0.7 %

Raymond James stock opened at $172.67 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $35.29 billion, a PE ratio of 17.78, a PEG ratio of 1.04 and a beta of 1.02. The firm’s fifty day moving average is $161.67 and its 200 day moving average is $138.34. Raymond James has a 12-month low of $104.24 and a 12-month high of $173.15.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the business posted $2.13 EPS. As a group, sell-side analysts predict that Raymond James will post 11.02 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.50 per share. This is an increase from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.16%. Raymond James’s payout ratio is currently 20.60%.

Insider Transactions at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the 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 in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 over the last ninety days. 0.54% of the stock is owned by company insiders.

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.