Worldquant Millennium Advisors LLC Sells 183,700 Shares of Raymond James (NYSE:RJF)

Worldquant Millennium Advisors LLC lessened its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 77.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,993 shares of the financial services provider's stock after selling 183,700 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Raymond James were worth $8,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. TCTC Holdings LLC raised its position in Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 106 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Raymond James by 121.0% during the fourth 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 during the last quarter. Plato Investment Management Ltd grew its holdings in Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 217 shares during the last quarter. Covestor Ltd grew its holdings in Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Raymond James during the fourth quarter valued at approximately $53,000. Institutional investors own 83.83% of the company's stock.

Raymond James Price Performance

Shares of NYSE:RJF traded down $0.95 on Friday, hitting $145.52. The stock had a trading volume of 639,571 shares, compared to its average volume of 1,306,564. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm's 50 day moving average price is $139.99 and its 200-day moving average price is $152.48. The company has a market capitalization of $29.36 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02.

Raymond James (NYSE:RJF - Get Free Report) last issued its 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). 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 analyst estimates of $3.46 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts predict that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. Raymond James's dividend payout ratio is presently 19.25%.

Insider Activity

In related news, insider James E. Bunn sold 3,650 shares of Raymond James 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 completion of the transaction, the insider now directly owns 78,227 shares of the company's stock, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on RJF. JMP Securities reiterated a "market outperform" rating and set a $175.00 price target on shares of Raymond James in a report on Thursday, April 24th. Wells Fargo & Company lowered their price objective on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Cowen restated a "hold" rating on shares of Raymond James in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a research note on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Raymond James currently has an average rating of "Hold" and an average target price of $153.82.

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.