UMB Bank n.a. Sells 38,912 Shares of Raymond James (NYSE:RJF)

UMB Bank n.a. cut its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 85.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,441 shares of the financial services provider's stock after selling 38,912 shares during the period. UMB Bank n.a.'s holdings in Raymond James were worth $895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock valued at $70,000 after buying an additional 138 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Raymond James during the fourth quarter worth approximately $105,701,000. Jefferies Financial Group Inc. purchased a new stake in Raymond James during the 4th quarter valued at about $9,366,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Raymond James in the fourth quarter valued at approximately $511,000. Finally, Proficio Capital Partners LLC purchased a new position in Raymond James during the fourth quarter worth approximately $21,334,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RJF has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price objective on Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. cut their price target on Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Morgan Stanley increased their target price on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Wells Fargo & Company lowered their target price 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, JMP Securities reaffirmed a "market outperform" rating and set a $175.00 price target on shares of Raymond James in a research report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $153.82.

Raymond James Price Performance

NYSE:RJF traded down $0.09 during trading hours on Tuesday, reaching $146.87. 896,611 shares of the company's stock were exchanged, compared to its average volume of 1,322,701. The company has a market capitalization of $29.63 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The business's 50-day simple moving average is $140.86 and its two-hundred day simple moving average is $151.24. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

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 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 business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The firm's quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts expect that Raymond James will post 11.17 EPS 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. Investors of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend 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 presently 19.25%.

Insider Activity at Raymond James

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