Geneva Capital Management LLC Trims Stock Holdings in Raymond James (NYSE:RJF)

Geneva Capital Management LLC trimmed its holdings in Raymond James (NYSE:RJF) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,819 shares of the financial services provider’s stock after selling 11,468 shares during the quarter. Geneva Capital Management LLC’s holdings in Raymond James were worth $15,039,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Inceptionr LLC increased its holdings in Raymond James by 26.9% during the 4th quarter. Inceptionr LLC now owns 10,534 shares of the financial services provider’s stock worth $1,636,000 after purchasing an additional 2,231 shares during the period. Raymond James Financial Inc. purchased a new position in Raymond James during the 4th quarter worth $105,701,000. Arizona State Retirement System increased its holdings in Raymond James by 0.7% during the 4th quarter. Arizona State Retirement System now owns 56,826 shares of the financial services provider’s stock worth $8,827,000 after purchasing an additional 410 shares during the period. Proficio Capital Partners LLC purchased a new position in Raymond James during the 4th quarter worth $21,334,000. Finally, Assetmark Inc. increased its holdings in Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RJF. JMP Securities raised their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $167.55.

Raymond James Stock Up 1.2 %

Raymond James stock opened at $145.98 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market capitalization of $29.91 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.90 and a beta of 1.04. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The business has a fifty day moving average price of $160.37 and a 200-day moving average price of $147.45.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities research analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Insider Buying and Selling

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by company insiders.

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.