MGB Wealth Management LLC Sells 100 Shares of Raymond James (NYSE:RJF)

MGB Wealth Management LLC lowered its stake in shares of Raymond James (NYSE:RJF) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,703 shares of the financial services provider’s stock after selling 100 shares during the quarter. MGB Wealth Management LLC’s holdings in Raymond James were worth $886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Raymond James by 1.1% in the 4th quarter. Van ECK Associates Corp now owns 21,256 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 235 shares in the last quarter. Kentucky Trust Co bought a new position in shares of Raymond James during the 4th quarter worth approximately $152,000. Savant Capital LLC boosted its stake in Raymond James by 18.6% in the fourth quarter. Savant Capital LLC now owns 2,378 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 373 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in Raymond James by 3.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,212 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 119 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Raymond James by 10.4% in the fourth quarter. Empowered Funds LLC now owns 3,828 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RJF shares. JPMorgan Chase & Co. raised their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Finally, JMP Securities boosted 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 report on Thursday, January 30th. Nine 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 stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and an average price target of $166.09.

Raymond James Trading Down 1.1 %

Shares of Raymond James stock opened at $161.14 on Thursday. The stock has a market cap of $32.93 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The firm has a fifty day moving average price of $161.85 and a 200 day moving average price of $143.04. 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 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Equities research analysts predict that Raymond James will post 11.12 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.24%. Raymond James’s payout ratio is presently 19.51%.

Insiders Place Their Bets

In related news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction 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 transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,621 shares of company stock worth $10,729,488. Corporate insiders own 0.54% of the company’s stock.

Raymond James Company Profile

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.