Raymond James (NYSE:RJF) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. trimmed its position in Raymond James (NYSE:RJF) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,010 shares of the financial services provider’s stock after selling 832 shares during the period. Cullen Investment Group LTD.’s holdings in Raymond James were worth $4,351,000 as of its most recent filing with the Securities & Exchange Commission.

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

Raymond James Stock Up 0.0 %

RJF opened at $154.23 on Tuesday. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. Raymond James has a 12 month low of $104.24 and a 12 month high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The business has a 50-day moving average of $160.21 and a two-hundred day moving average of $135.54.

Raymond James (NYSE:RJF) last issued 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. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. Raymond James’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. On average, research analysts expect that Raymond James will post 10.85 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase 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 currently 20.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on RJF shares. Jefferies Financial Group raised their target price on Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Citigroup raised their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods increased their target price on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Bank of America boosted 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. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and an average price target of $156.18.

Insider Buying and Selling at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,621 shares of company stock valued at $10,729,488. 9.74% of the stock is owned by corporate insiders.

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.