Man Group plc Sells 63,632 Shares of Raymond James (NYSE:RJF)

Man Group plc lessened its position in shares of Raymond James (NYSE:RJF - Free Report) by 58.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,697 shares of the financial services provider's stock after selling 63,632 shares during the quarter. Man Group plc's holdings in Raymond James were worth $6,943,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RJF. TCTC Holdings LLC raised its stake in shares of Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Y.D. More Investments Ltd increased its stake in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Plato Investment Management Ltd raised its holdings 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 buying an additional 217 shares during the last quarter. Covestor Ltd raised its holdings in shares of Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after buying an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of Raymond James in the fourth quarter worth $53,000. Institutional investors own 83.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RJF shares. JPMorgan Chase & Co. decreased their price target on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Citigroup decreased their price target on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Cowen reaffirmed a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Wells Fargo & Company decreased their price target on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $153.82.

Insider Activity

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

Raymond James Trading Down 0.2%

Shares of Raymond James stock opened at $153.59 on Tuesday. 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 firm has a fifty day moving average price of $139.53 and a 200 day moving average price of $152.56. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The stock has a market cap of $30.99 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02.

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

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a $0.50 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. Raymond James's dividend payout ratio (DPR) is 19.25%.

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.

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