Raymond James (NYSE:RJF) Stock Holdings Cut by Private Capital Management LLC

Private Capital Management LLC reduced its position in shares of Raymond James (NYSE:RJF) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 58,850 shares of the financial services provider’s stock after selling 1,035 shares during the period. Raymond James comprises about 1.0% of Private Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. Private Capital Management LLC’s holdings in Raymond James were worth $9,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Raymond James during the 4th quarter valued at $294,647,000. Raymond James Financial Inc. acquired a new stake in shares of Raymond James during the 4th quarter valued at $105,701,000. JPMorgan Chase & Co. lifted its holdings in shares of Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock valued at $556,533,000 after purchasing an additional 488,245 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Raymond James by 433.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 567,460 shares of the financial services provider’s stock valued at $88,144,000 after purchasing an additional 461,069 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Raymond James by 18.4% in the fourth quarter. Northern Trust Corp now owns 2,107,218 shares of the financial services provider’s stock valued at $327,314,000 after purchasing an additional 327,739 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Down 0.5%

Shares of NYSE:RJF opened at $152.32 on Thursday. The company has a market cap of $30.73 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.90 and a beta of 1.02. The stock’s 50-day moving average is $138.70 and its 200-day moving average is $152.38. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 earnings per share. Equities research analysts predict 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 was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, April 1st. Raymond James’s payout ratio is presently 19.25%.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RJF shares. Morgan Stanley increased their target price on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods increased 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. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Bank of America downgraded shares of Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a research note on Wednesday, April 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $175.00 price target on shares of Raymond James in a research note on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Raymond James currently has an average rating of “Hold” and an average price target of $153.82.

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.