Two Sigma Investments LP Decreases Stock Position in Raymond James (NYSE:RJF)

Two Sigma Investments LP trimmed its position in shares of Raymond James (NYSE:RJF - Free Report) by 83.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,600 shares of the financial services provider's stock after selling 173,642 shares during the period. Two Sigma Investments LP's holdings in Raymond James were worth $5,219,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. TCTC Holdings LLC lifted its position in Raymond James by 176.7% in 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 during the last quarter. Y.D. More Investments Ltd boosted its position in shares of 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 valued at $36,000 after purchasing an additional 127 shares during the period. Plato Investment Management Ltd grew its stake in Raymond James by 1,142.1% during 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 increased its position in Raymond James by 56.7% during 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 period. Finally, Mizuho Bank Ltd. purchased a new position in shares of Raymond James during the fourth quarter worth approximately $53,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cowen reiterated a "hold" rating on shares of Raymond James in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Wells Fargo & Company dropped their price target on Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley increased their price objective on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Citigroup dropped their target price on Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $153.82.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 6,570 shares of the company's 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 transaction, the insider now owns 74,586 shares of the company's stock, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James E. Bunn sold 3,650 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now directly owns 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Raymond James Price Performance

NYSE RJF traded down $0.76 during trading hours on Friday, reaching $146.97. The company's stock had a trading volume of 2,849,562 shares, compared to its average volume of 1,313,110. 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 company's 50-day moving average is $140.27 and its two-hundred day moving average is $151.96. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The stock has a market cap of $29.65 billion, a PE ratio of 14.34, a PEG 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 business had revenue of $3.40 billion during 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 revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. Analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.50 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. Raymond James's dividend payout ratio is currently 19.25%.

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.