Hartford Investment Management Co. Sells 281 Shares of Raymond James (NYSE:RJF)

Hartford Investment Management Co. lowered its position in Raymond James (NYSE:RJF) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,384 shares of the financial services provider’s stock after selling 281 shares during the period. Hartford Investment Management Co.’s holdings in Raymond James were worth $1,768,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RJF. Savant Capital LLC increased its position in shares of Raymond James by 18.6% during the fourth quarter. Savant Capital LLC now owns 2,378 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 373 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Raymond James by 3.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,212 shares of the financial services provider’s stock worth $499,000 after buying an additional 119 shares during the last quarter. Empowered Funds LLC increased its position in Raymond James by 10.4% during the 4th quarter. Empowered Funds LLC now owns 3,828 shares of the financial services provider’s stock valued at $593,000 after buying an additional 362 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Raymond James by 2.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,244 shares of the financial services provider’s stock valued at $3,300,000 after buying an additional 447 shares during the last quarter. Finally, Choreo LLC boosted its holdings in Raymond James by 40.9% in the fourth quarter. Choreo LLC now owns 4,029 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 1,170 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Down 0.5 %

RJF stock opened at $160.34 on Friday. Raymond James has a one year low of $104.24 and a one year high of $174.32. 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’s fifty day moving average is $161.75 and its 200 day moving average is $143.16. The firm has a market cap of $32.77 billion, a PE ratio of 15.64, a P/E/G ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. On average, research analysts forecast that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. 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 1.25%. Raymond James’s payout ratio is 19.51%.

Wall Street Analyst Weigh In

RJF has been the subject of several research analyst reports. TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. JMP Securities boosted their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $166.09.

Insider Transactions at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 in the last three months. 0.54% of the stock is currently owned by company insiders.

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.