Ameriprise Financial Inc. Sells 21,796 Shares of Raymond James (NYSE:RJF)

Ameriprise Financial Inc. reduced its stake in Raymond James (NYSE:RJF - Free Report) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,251 shares of the financial services provider's stock after selling 21,796 shares during the quarter. Ameriprise Financial Inc. owned 0.13% of Raymond James worth $40,114,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in Raymond James by 2.2% during the 4th quarter. FMR LLC now owns 6,522,025 shares of the financial services provider's stock worth $1,013,066,000 after buying an additional 137,277 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Raymond James by 12.0% in the third 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 period. Geode Capital Management LLC grew its position in Raymond James by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,392,260 shares of the financial services provider's stock worth $680,378,000 after buying an additional 40,576 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Raymond James by 1.0% during the 4th quarter. Earnest Partners LLC now owns 2,533,666 shares of the financial services provider's stock worth $393,554,000 after buying an additional 24,195 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Raymond James by 8.6% during the 4th quarter. Invesco Ltd. now owns 2,435,306 shares of the financial services provider's stock worth $378,276,000 after buying an additional 192,904 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on RJF shares. Morgan Stanley increased their target price on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Citigroup lowered their target price on Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Cowen reissued a "hold" rating on shares of Raymond James in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective 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. Finally, StockNews.com cut Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $153.82.

Raymond James Stock Performance

Shares of RJF opened at $145.51 on Monday. The firm has a market cap of $29.82 billion, a PE ratio of 14.20, a PEG ratio of 0.90 and a beta of 1.02. The stock's fifty day moving average price is $138.22 and its two-hundred day moving average price is $152.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. Raymond James's payout ratio is 19.25%.

Insider Activity at Raymond James

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Raymond James 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.

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