USS Investment Management Ltd Trims Position in Raymond James (NYSE:RJF)

USS Investment Management Ltd cut its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,215 shares of the financial services provider's stock after selling 7,876 shares during the period. USS Investment Management Ltd's holdings in Raymond James were worth $6,557,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TCTC Holdings LLC boosted its holdings in shares of Raymond James by 176.7% during the 4th 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 lifted its position 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 period. Plato Investment Management Ltd lifted its position 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 period. Covestor Ltd boosted its holdings in Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new stake in Raymond James in the fourth quarter worth approximately $53,000. 83.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RJF. Wells Fargo & Company lowered their price target on Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Cowen reissued a "hold" rating on shares of Raymond James in a report on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Citigroup reduced their price target on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, 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. Eleven 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $153.82.

Raymond James Price Performance

RJF traded up $2.27 during trading on Tuesday, reaching $147.59. 328,360 shares of the company traded hands, compared to its average volume of 1,302,712. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The firm has a fifty day simple moving average of $139.97 and a 200 day simple moving average of $152.36. 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 has a market cap of $29.78 billion, a P/E ratio of 14.40, a PEG ratio of 0.90 and a beta of 1.02.

Raymond James (NYSE:RJF - Get Free Report) last posted its 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). The company 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 business's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.31 earnings per share. On average, equities analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

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

Insiders Place Their Bets

In other news, insider James E. Bunn sold 3,650 shares of the company's 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 transaction, the insider now owns 78,227 shares of the company's stock, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.