Raymond James (NYSE:RJF) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its position in Raymond James (NYSE:RJF - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 370,810 shares of the financial services provider's stock after buying an additional 38,442 shares during the period. Rhumbline Advisers owned about 0.18% of Raymond James worth $51,509,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. TCTC Holdings LLC boosted its holdings in Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after buying an additional 106 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in Raymond James by 1,142.1% in the 4th 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 boosted its holdings in Raymond James by 56.7% in the 4th 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. acquired a new stake in Raymond James in the 4th quarter worth about $53,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RJF has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. JMP Securities reissued a "market outperform" rating and issued a $175.00 target price on shares of Raymond James in a research note on Thursday, April 24th. Morgan Stanley raised their target price on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Wall Street Zen lowered shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company decreased their target price 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. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $153.82.

Raymond James Trading Down 1.4%

Shares of RJF stock traded down $2.00 during trading on Thursday, hitting $143.40. 1,328,782 shares of the stock traded hands, compared to its average volume of 1,317,334. The firm has a market capitalization of $28.93 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. 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's fifty day moving average price is $140.49 and its 200-day moving average price is $151.77. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.

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 analysts' expectations 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 period in the previous year, the firm posted $2.31 EPS. As a group, research analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a yield of 1.39%. Raymond James's dividend payout ratio (DPR) is presently 19.25%.

Insider Activity at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of Raymond James stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $146.61, for a total transaction of $963,227.70. Following the completion of the sale, the insider now owns 74,586 shares of the company's stock, valued at $10,935,053.46. This trade represents a 8.10% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by 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.