Dock Street Asset Management Inc. Decreases Stake in Raymond James (NYSE:RJF)

Dock Street Asset Management Inc. lessened its position in shares of Raymond James (NYSE:RJF) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,865 shares of the financial services provider’s stock after selling 399 shares during the quarter. Dock Street Asset Management Inc.’s holdings in Raymond James were worth $600,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its position in Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the 3rd quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new position in shares of Raymond James in the 3rd quarter worth approximately $34,000. Y.D. More Investments Ltd increased its position in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter valued at $37,000. Institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated 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 of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock valued at $10,729,488 in the last 90 days. Insiders own 0.54% of the company’s stock.

Raymond James Price Performance

Shares of RJF opened at $168.39 on Friday. 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 company has a 50 day moving average price of $162.13 and a 200-day moving average price of $141.46. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The stock has a market capitalization of $34.41 billion, a PE ratio of 16.43, a PEG ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Equities analysts predict that Raymond James will post 11.16 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued 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 dividend yield of 1.19%. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RJF shares. StockNews.com upgraded shares of Raymond James from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Citigroup raised their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Keefe, Bruyette & Woods upped their target price 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. Bank of America raised their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company upped their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Raymond James currently has an average rating of “Hold” and an average target price of $166.09.

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.