Geneva Capital Management LLC Sells 11,468 Shares of Raymond James (NYSE:RJF)

Geneva Capital Management LLC lessened its stake in shares of Raymond James (NYSE:RJF) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 96,819 shares of the financial services provider’s stock after selling 11,468 shares during the period. Geneva Capital Management LLC’s holdings in Raymond James were worth $15,039,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP bought a new position in shares of Raymond James in the third quarter worth about $34,000. Y.D. More Investments Ltd boosted its stake 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 worth $36,000 after acquiring an additional 127 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Raymond James in the third quarter worth about $37,000. Plato Investment Management Ltd boosted its stake in shares of Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the period. Finally, Quarry LP boosted its stake in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 1.2 %

Shares of RJF stock opened at $145.98 on Thursday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $160.37 and its two-hundred day simple moving average is $147.45. The company has a market cap of $29.91 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

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 return on equity of 19.71% and a net margin of 14.06%. Research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. Raymond James’s payout ratio is 19.51%.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JMP Securities upped their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $161.00 to $185.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Morgan Stanley increased their price target on Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Bank of America increased their price target on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Nine 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. According to MarketBeat, Raymond James has a consensus rating of “Hold” and an average price target of $167.55.

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.