Raymond James (NYSE:RJF) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC decreased its position in shares of Raymond James (NYSE:RJF - Free Report) by 13.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,706 shares of the financial services provider's stock after selling 1,945 shares during the quarter. Stablepoint Partners LLC's holdings in Raymond James were worth $1,765,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James in the 1st quarter worth $25,000. TCTC Holdings LLC lifted its stake 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 purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd lifted its stake 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 purchasing an additional 127 shares in the last quarter. Plato Investment Management Ltd lifted its stake 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 purchasing an additional 217 shares in the last quarter. Finally, Covestor Ltd lifted its stake 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 purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target 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. JMP Securities reiterated a "market outperform" rating and issued a $175.00 price target on shares of Raymond James in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price target on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Wall Street Zen cut shares of Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Eleven 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $153.82.

Raymond James Stock Performance

Shares of NYSE RJF traded up $3.42 during midday trading on Friday, reaching $146.83. The company had a trading volume of 1,169,628 shares, compared to its average volume of 1,322,498. The business's 50-day simple moving average is $140.76 and its 200 day simple moving average is $151.52. The stock has a market cap of $29.62 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.90 and a beta of 1.03. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

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

Raymond James Dividend Announcement

The firm also recently disclosed 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 is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.36%. Raymond James's payout ratio is currently 19.25%.

Insider Transactions at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction 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 sale, the insider now owns 74,586 shares in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

About Raymond James

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.