Eagle Bay Advisors LLC Has $72,000 Position in Raymond James (NYSE:RJF)

Eagle Bay Advisors LLC cut its position in shares of Raymond James (NYSE:RJF) by 33.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 465 shares of the financial services provider’s stock after selling 236 shares during the period. Eagle Bay Advisors LLC’s holdings in Raymond James were worth $72,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock worth $1,483,542,000 after buying an additional 2,898,242 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after acquiring an additional 488,245 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider’s stock valued at $88,464,000 after acquiring an additional 474,443 shares during the period. Two Sigma Advisers LP acquired a new stake in Raymond James during the 3rd quarter valued at $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in Raymond James during the third quarter worth $28,985,000. 83.83% of the stock is owned by institutional investors.

Raymond James Trading Up 0.0 %

RJF opened at $154.23 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a twelve month low of $104.24 and a twelve month high of $171.38. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 0.91 and a beta of 1.02. The company has a 50-day simple moving average of $160.21 and a 200 day simple moving average of $135.54.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. Analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.30%. Raymond James’s dividend payout ratio (DPR) is 20.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RJF shares. TD Cowen raised their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. restated a “neutral” rating and set a $166.00 price objective (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and upped their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Citigroup lifted their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Keefe, Bruyette & Woods upped their price objective on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $156.18.

Insider Buying and Selling at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. This represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 over the last 90 days. Insiders own 9.74% 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.