West Michigan Advisors LLC Lowers Stock Holdings in Raymond James (NYSE:RJF)

West Michigan Advisors LLC reduced its position in shares of Raymond James (NYSE:RJF) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,241 shares of the financial services provider’s stock after selling 379 shares during the period. West Michigan Advisors LLC’s holdings in Raymond James were worth $1,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RJF. International Assets Investment Management LLC boosted its position in shares of Raymond James by 44,291.7% during the third quarter. International Assets Investment Management LLC now owns 10,654 shares of the financial services provider’s stock worth $1,305,000 after buying an additional 10,630 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Raymond James by 23.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 38,359 shares of the financial services provider’s stock worth $4,698,000 after buying an additional 7,338 shares during the period. abrdn plc boosted its position in shares of Raymond James by 28.6% during the third quarter. abrdn plc now owns 54,743 shares of the financial services provider’s stock worth $6,676,000 after buying an additional 12,174 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Raymond James by 32.7% during the third quarter. First Trust Direct Indexing L.P. now owns 6,033 shares of the financial services provider’s stock worth $739,000 after buying an additional 1,486 shares during the period. Finally, US Bancorp DE boosted its position in shares of Raymond James by 1.9% during the third quarter. US Bancorp DE now owns 72,947 shares of the financial services provider’s stock worth $8,933,000 after buying an additional 1,393 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on RJF shares. Keefe, Bruyette & Woods lifted their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. JMP Securities lifted their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Bank of America lifted their target price on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $166.09.

Insider Transactions at Raymond James

In other news, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,319,326.02. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated 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 in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,451 shares of company stock worth $10,531,255. Corporate insiders own 0.54% of the company’s stock.

Raymond James Stock Up 1.9 %

Raymond James stock opened at $154.61 on Friday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market cap of $31.68 billion, a PE ratio of 15.08, a P/E/G ratio of 0.90 and a beta of 1.03. The stock’s fifty day moving average is $160.97 and its two-hundred day moving average is $146.55.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, sell-side analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

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.