Park Place Capital Corp Sells 459 Shares of Raymond James (NYSE:RJF)

Park Place Capital Corp lessened its position in shares of Raymond James (NYSE:RJF) by 27.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,218 shares of the financial services provider’s stock after selling 459 shares during the period. Park Place Capital Corp’s holdings in Raymond James were worth $156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in RJF. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James in the 4th quarter valued at approximately $30,000. OLD Point Trust & Financial Services N A bought a new position in Raymond James in the 4th quarter valued at approximately $33,000. Future Financial Wealth Managment LLC bought a new position in Raymond James in the 1st quarter valued at approximately $33,000. CVA Family Office LLC bought a new position in Raymond James in the 4th quarter valued at approximately $50,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 192 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RJF shares. Morgan Stanley increased their price objective on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods decreased their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Citigroup upped their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. TD Cowen decreased their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research report on Thursday, April 25th. Finally, JMP Securities restated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $126.22.

Raymond James Trading Up 0.0 %

Shares of RJF traded up $0.04 during trading hours on Monday, hitting $123.20. 611,249 shares of the stock were exchanged, compared to its average volume of 1,020,839. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 0.98. The business has a 50-day moving average of $122.67 and a 200-day moving average of $119.28. The firm has a market capitalization of $25.54 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the company earned $2.03 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that Raymond James will post 9.55 EPS for the current year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, July 1st. Raymond James’s payout ratio is 21.77%.

About Raymond James

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.