Raymond James (NYSE:RJF) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its stake in Raymond James (NYSE:RJF) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,331 shares of the financial services provider’s stock after selling 253 shares during the period. New York Life Investment Management LLC’s holdings in Raymond James were worth $4,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RJF. International Assets Investment Management LLC grew its holdings in Raymond James by 44,291.7% during the 3rd quarter. International Assets Investment Management LLC now owns 10,654 shares of the financial services provider’s stock worth $1,305,000 after acquiring an additional 10,630 shares in the last quarter. abrdn plc lifted its position in shares of Raymond James by 28.6% during the 3rd quarter. abrdn plc now owns 54,743 shares of the financial services provider’s stock worth $6,676,000 after purchasing an additional 12,174 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake 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 purchasing an additional 1,486 shares in the last quarter. US Bancorp DE grew its stake 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 purchasing an additional 1,393 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC increased its holdings in Raymond James by 9.4% in the third quarter. Gladstone Institutional Advisory LLC now owns 9,861 shares of the financial services provider’s stock valued at $1,208,000 after buying an additional 845 shares during the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Stock Up 1.9 %

RJF stock opened at $154.61 on Friday. The company has a market cap of $31.68 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. The company has a fifty day moving average price of $160.97 and a 200 day moving average price of $146.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last announced 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 net margin of 14.06% and a return on equity of 19.71%. Sell-side analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. 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 payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RJF. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Citigroup boosted their target price on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. UBS Group upgraded shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Raymond James currently has an average rating of “Hold” and a consensus price target of $166.09.

Insider Transactions at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $1,594,700.00. Following the completion of the sale, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,451 shares of company stock worth $10,531,255 over the last 90 days. 0.54% of the stock is currently owned by insiders.

Raymond James Company 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.