Raymond James (NYSE:RJF) Shares Sold by MGB Wealth Management LLC

MGB Wealth Management LLC decreased its stake in Raymond James (NYSE:RJF) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 5,703 shares of the financial services provider’s stock after selling 100 shares during the quarter. MGB Wealth Management LLC’s holdings in Raymond James were worth $886,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RJF. Wellington Management Group LLP lifted its stake 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 valued at $1,483,542,000 after buying an additional 2,898,242 shares in the last quarter. State Street Corp raised its holdings in shares of Raymond James by 0.7% during the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after acquiring an additional 54,265 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after acquiring an additional 12,869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Raymond James by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider’s stock worth $130,340,000 after purchasing an additional 7,121 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $161.14 on Thursday. The firm has a 50 day moving average of $161.85 and a two-hundred day moving average of $143.04. The stock has a market capitalization of $32.93 billion, a PE ratio of 15.72, a P/E/G ratio of 0.98 and a beta of 1.03. 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 has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. On average, research analysts predict that Raymond James will post 11.12 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed 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 was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Raymond James’s payout ratio is currently 19.51%.

Insider Buying and Selling

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 sale, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,621 shares of company stock worth $10,729,488. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Bank of America upped their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” 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. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, Citigroup increased their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average target price of $166.09.

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.