Norden Group LLC Lowers Position in Raymond James (NYSE:RJF)

Norden Group LLC trimmed its holdings in shares of Raymond James (NYSE:RJF) by 28.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,530 shares of the financial services provider’s stock after selling 997 shares during the period. Norden Group LLC’s holdings in Raymond James were worth $282,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Intrust Bank NA increased its position in shares of Raymond James by 4.5% in the fourth quarter. Intrust Bank NA now owns 4,968 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 213 shares during the last quarter. Eagle Wealth Strategies LLC purchased a new stake in shares of Raymond James during the 4th quarter valued at $225,000. Stonebrook Private Inc. bought a new stake in shares of Raymond James during the 4th quarter worth $342,000. Russell Investments Group Ltd. increased its stake in Raymond James by 2.1% in the fourth quarter. Russell Investments Group Ltd. now owns 154,864 shares of the financial services provider’s stock valued at $17,296,000 after acquiring an additional 3,257 shares during the last quarter. Finally, Addison Advisors LLC increased its stake in Raymond James by 32.7% in the fourth quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 136 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was 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 owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of research reports. Citigroup upped their price objective on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and increased their price target for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. JMP Securities restated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reduced their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target of $126.22.

Raymond James Stock Up 0.5 %

Shares of Raymond James stock opened at $122.55 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19. The company has a market cap of $25.62 billion, a P/E ratio of 14.82, a PEG ratio of 0.83 and a beta of 1.03. The company’s fifty day simple moving average is $123.31 and its two-hundred day simple moving average is $113.01.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.03 earnings per share. Research analysts anticipate that Raymond James will post 9.56 EPS for the current year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s payout ratio is currently 21.77%.

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.