Raymond James (NYSE:RJF) Holdings Reduced by Tranquility Partners LLC

Tranquility Partners LLC cut its holdings in shares of Raymond James (NYSE:RJF) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,009 shares of the financial services provider’s stock after selling 225 shares during the period. Tranquility Partners LLC’s holdings in Raymond James were worth $778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after acquiring an additional 9,217 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James during the third quarter valued at about $3,561,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after purchasing an additional 7,028 shares during the period. UMB Bank n.a. grew its position in Raymond James by 7,238.7% in the 4th quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock valued at $7,045,000 after buying an additional 44,735 shares in the last quarter. Finally, Longboard Asset Management LP acquired a new position in Raymond James during the 4th quarter valued at about $245,000. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RJF shares. StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America boosted their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, JMP Securities raised their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $166.09.

Raymond James Price Performance

Shares of RJF opened at $161.14 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The firm has a market cap of $32.93 billion, a PE ratio of 15.72, a PEG ratio of 0.98 and a beta of 1.03. The firm’s 50 day moving average price is $161.85 and its 200 day moving average price is $143.04. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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, research analysts expect that Raymond James will post 11.12 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a $0.50 dividend. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, January 2nd. Raymond James’s payout ratio is 19.51%.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock valued at $10,729,488 over the last 90 days. 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.