Systematic Financial Management LP Cuts Stock Position in Raymond James (NYSE:RJF)

Systematic Financial Management LP trimmed its position in shares of Raymond James (NYSE:RJF) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,741 shares of the financial services provider’s stock after selling 515 shares during the quarter. Systematic Financial Management LP’s holdings in Raymond James were worth $3,397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RJF. Wolff Wiese Magana LLC boosted its stake in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP bought a new stake in Raymond James in the second quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new stake in Raymond James during the third quarter valued at about $32,000. Gladius Capital Management LP bought a new position in shares of Raymond James during the third quarter valued at about $34,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Raymond James in the third quarter worth about $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the transaction, the insider now directly owns 80,421 shares in the company, valued at $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,621 shares of company stock worth $9,134,788 over the last quarter. 9.74% of the stock is currently owned by insiders.

Raymond James Trading Down 0.2 %

Shares of NYSE RJF opened at $165.51 on Friday. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a 50-day moving average of $147.10 and a 200 day moving average of $128.23. The stock has a market cap of $33.77 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.00.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.21%. Raymond James’s dividend payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen lifted their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Bank of America raised their target price on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their price target on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $140.91.

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.