Howard Bailey Securities LLC Sells 196 Shares of Raymond James (NYSE:RJF)

Howard Bailey Securities LLC decreased its holdings in Raymond James (NYSE:RJF) by 7.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,474 shares of the financial services provider’s stock after selling 196 shares during the period. Howard Bailey Securities LLC’s holdings in Raymond James were worth $384,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RJF. Wolff Wiese Magana LLC raised its stake in 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 acquiring an additional 198 shares during the period. Gladius Capital Management LP acquired a new position in shares of Raymond James in the third quarter valued at $34,000. Y.D. More Investments Ltd raised its position in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 127 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Raymond James during the 3rd quarter worth about $37,000. Finally, Quarry LP boosted its holdings in shares of Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after buying an additional 187 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RJF. JPMorgan Chase & Co. increased their price target 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. Bank of America increased their target price on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Monday. JMP Securities lifted their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $166.09.

Raymond James Stock Performance

Shares of RJF stock opened at $161.14 on Thursday. The stock has a market capitalization of $32.93 billion, a PE ratio of 15.72, a PEG ratio of 0.98 and a beta of 1.03. The business’s 50 day simple moving average is $161.85 and its 200 day simple moving average is $143.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. Raymond James has a one year low of $104.24 and a one year high of $174.32.

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

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity

In other news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction that occurred 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 $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,621 shares of company stock worth $10,729,488. Company insiders own 0.54% of the company’s stock.

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.