Raymond James (NYSE:RJF) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in Raymond James (NYSE:RJF) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,855 shares of the financial services provider’s stock after selling 5,177 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Raymond James were worth $4,023,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the period. Quarry LP purchased a new stake in Raymond James during the second quarter worth about $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James during the third quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Raymond James in the third quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Raymond James in the third quarter valued at approximately $37,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,621 shares of company stock valued at $9,134,788 in the last three months. 9.74% of the stock is currently owned by company insiders.

Raymond James Stock Performance

Shares of Raymond James stock opened at $165.48 on Wednesday. The firm has a market capitalization of $33.76 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.97 and a beta of 1.00. 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 52 week low of $104.24 and a 52 week high of $171.38. The firm’s 50 day moving average is $145.46 and its two-hundred day moving average is $127.69.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the business earned $2.13 EPS. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts forecast that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be issued a $0.50 dividend. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.21%. Raymond James’s payout ratio is presently 18.54%.

Analyst Upgrades and Downgrades

RJF has been the subject of several recent research reports. JMP Securities raised their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America upped their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, TD Cowen upped 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. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus target price of $140.91.

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.