Ieq Capital LLC Sells 308 Shares of Raymond James (NYSE:RJF)

Posted by Defense World Staff on Apr 30th, 2023

Ieq Capital LLC decreased its position in Raymond James (NYSE:RJF – Get Rating) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,413 shares of the financial services provider’s stock after selling 308 shares during the quarter. Ieq Capital LLC’s holdings in Raymond James were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RJF. RFP Financial Group LLC bought a new position in Raymond James in the fourth quarter valued at about $35,000. Covestor Ltd increased its position in Raymond James by 77.1% in the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after buying an additional 138 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in Raymond James in the fourth quarter worth about $41,000. Pinnacle Financial Partners Inc. purchased a new stake in Raymond James in the third quarter worth about $44,000. Finally, Alta Advisers Ltd purchased a new stake in Raymond James in the third quarter worth about $49,000. Institutional investors own 74.77% of the company’s stock.

Raymond James Trading Up 1.3 %

Shares of NYSE:RJF opened at $90.53 on Friday. Raymond James has a 12-month low of $84.86 and a 12-month high of $126.00. The business’s fifty day simple moving average is $96.42 and its 200-day simple moving average is $107.06. The company has a market capitalization of $19.50 billion, a PE ratio of 11.93 and a beta of 1.02. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39.

Raymond James (NYSE:RJF – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.14). Raymond James had a net margin of 14.01% and a return on equity of 18.62%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts predict that Raymond James will post 9.07 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Monday, April 3rd were paid a dividend of $0.42 per share. The ex-dividend date was Friday, March 31st. This represents a $1.68 annualized dividend and a yield of 1.86%. Raymond James’s dividend payout ratio (DPR) is 22.13%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. The Goldman Sachs Group cut their target price 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. UBS Group cut their price target on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Monday, January 9th. Credit Suisse Group cut their price target on Raymond James from $119.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, January 26th. Morgan Stanley cut their price target on Raymond James from $121.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, April 20th. Finally, Keefe, Bruyette & Woods raised their price target on Raymond James from $120.00 to $126.00 and gave the company a “market perform” rating in a report on Thursday, January 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $119.43.

Insider Buying and Selling

In related news, insider Jodi Perry sold 6,343 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $112.30, for a total value of $712,318.90. Following the completion of the transaction, the insider now owns 7,150 shares of the company’s stock, valued at approximately $802,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.46% of the stock is owned by company insiders.

Raymond James Profile

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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.