Raymond James (NYSE:RJF) Shares Sold by Buckhead Capital Management LLC

Buckhead Capital Management LLC cut its position in shares of Raymond James (NYSE:RJF) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,831 shares of the financial services provider’s stock after selling 6,673 shares during the quarter. Raymond James makes up 1.8% of Buckhead Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Buckhead Capital Management LLC’s holdings in Raymond James were worth $5,566,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in Raymond James in the third quarter valued at $315,000. Vontobel Holding Ltd. increased its stake in shares of Raymond James by 5.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,440 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 137 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Raymond James during the 3rd quarter worth about $1,041,000. Finally, Cardinal Capital Management boosted its position in shares of Raymond James by 2.9% in the third quarter. Cardinal Capital Management now owns 32,106 shares of the financial services provider’s stock worth $3,932,000 after acquiring an additional 907 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Raymond James Stock Performance

Raymond James stock opened at $160.34 on Friday. The firm has a market capitalization of $32.77 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. Raymond James has a one year low of $104.24 and a one year high of $174.32. The stock’s 50 day moving average price is $161.75 and its 200 day moving average price is $143.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, sell-side analysts expect that Raymond James will post 11.12 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. Shareholders of record on Thursday, January 2nd were given a $0.50 dividend. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio is presently 19.51%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RJF shares. Morgan Stanley increased their price target on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Bank of America lifted 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. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Raymond James currently has an average rating of “Hold” and a consensus target price of $166.09.

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.