Concurrent Investment Advisors LLC Has $1.24 Million Holdings in Raymond James (NYSE:RJF)

Concurrent Investment Advisors LLC lessened its holdings in shares of Raymond James (NYSE:RJF) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,969 shares of the financial services provider’s stock after selling 731 shares during the period. Concurrent Investment Advisors LLC’s holdings in Raymond James were worth $1,238,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Y.D. More Investments Ltd lifted its holdings in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the period. Gladius Capital Management LP acquired a new position in shares of Raymond James during the third quarter worth $34,000. Peterson Financial Group Inc. acquired a new position in shares of Raymond James during the third quarter worth $37,000. Quarry LP raised its stake in Raymond James by 80.3% during the third 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 last quarter. Finally, Eastern Bank bought a new position in Raymond James during the fourth quarter worth $68,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’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 transaction, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 over the last three months. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, JMP Securities lifted their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $166.09.

Raymond James Trading Down 2.4 %

RJF opened at $151.34 on Friday. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a market cap of $31.01 billion, a P/E ratio of 14.77, 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 $161.30 and a two-hundred day moving average price of $145.31.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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%. Analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Raymond James’s dividend payout ratio is currently 19.51%.

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.