Securian Asset Management Inc. boosted its stake in shares of Raymond James (NYSE:RJF – Get Rating) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,232 shares of the financial services provider’s stock after purchasing an additional 135 shares during the quarter. Securian Asset Management Inc.’s holdings in Raymond James were worth $1,734,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank boosted its position in shares of Raymond James by 0.4% during the fourth quarter. Czech National Bank now owns 22,660 shares of the financial services provider’s stock worth $2,421,000 after buying an additional 86 shares during the period. Louisiana State Employees Retirement System increased its position in Raymond James by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the financial services provider’s stock valued at $1,336,000 after acquiring an additional 100 shares during the period. Intrust Bank NA increased its position in Raymond James by 1.9% in the 3rd quarter. Intrust Bank NA now owns 5,344 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 101 shares during the period. Moody National Bank Trust Division increased its position in Raymond James by 1.2% in the 4th quarter. Moody National Bank Trust Division now owns 8,555 shares of the financial services provider’s stock valued at $914,000 after acquiring an additional 105 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in shares of Raymond James by 5.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 2,520 shares of the financial services provider’s stock worth $277,000 after buying an additional 121 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, insider Jodi Perry sold 6,343 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $112.30, for a total transaction of $712,318.90. Following the transaction, the insider now owns 7,150 shares of the company’s stock, valued at approximately $802,945. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.46% of the stock is currently owned by corporate insiders.
Raymond James Trading Down 0.4 %
Raymond James (NYSE:RJF – Get Rating) last issued its earnings results on Wednesday, January 25th. The financial services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. Raymond James had a return on equity of 17.78% and a net margin of 13.65%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Raymond James will post 9.18 EPS for the current fiscal year.
Raymond James Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Monday, April 3rd were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, March 31st. Raymond James’s payout ratio is presently 23.40%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. UBS Group decreased their price target on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, January 9th. Citigroup cut their price target on shares of Raymond James from $130.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. Morgan Stanley lowered their price objective on shares of Raymond James from $121.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $120.00 to $126.00 and gave the company a “market perform” rating in a research note on Thursday, January 12th. Finally, The Goldman Sachs Group cut their price objective on Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, January 4th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $119.43.
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.
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