Sumitomo Mitsui Trust Holdings Inc. Sells 8,280 Shares of Raymond James (NYSE:RJF)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Raymond James (NYSE:RJF - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 503,108 shares of the financial services provider's stock after selling 8,280 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of Raymond James worth $56,097,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in Raymond James by 3.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,419 shares of the financial services provider's stock valued at $365,000 after acquiring an additional 100 shares in the last quarter. Addison Advisors LLC increased its stake in Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider's stock valued at $42,000 after buying an additional 103 shares during the period. SVB Wealth LLC lifted its position in Raymond James by 5.6% in the 3rd quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider's stock worth $206,000 after buying an additional 108 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Raymond James by 3.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider's stock valued at $387,000 after buying an additional 118 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of Raymond James by 3.3% during the 3rd quarter. Greenleaf Trust now owns 3,683 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Activity

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the firm's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now owns 21,491 shares of the company's stock, valued at approximately $2,405,057.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Art A. Garcia acquired 879 shares of Raymond James stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the transaction, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on RJF. JMP Securities reiterated a "market perform" rating on shares of Raymond James in a report on Tuesday, April 9th. TD Cowen lifted their price target on Raymond James from $116.50 to $131.00 and gave the company a "market perform" rating in a report on Friday, March 22nd. The Goldman Sachs Group restated a "neutral" rating and issued a $116.00 price objective (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Citigroup lifted their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Finally, Morgan Stanley increased their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $123.88.

Raymond James Stock Performance

Shares of NYSE RJF traded up $1.64 during trading hours on Friday, hitting $123.60. 3,031,427 shares of the stock were exchanged, compared to its average volume of 1,052,742. Raymond James has a one year low of $82.00 and a one year high of $131.19. The company's 50 day moving average is $122.16 and its 200 day moving average is $111.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The firm has a market capitalization of $25.84 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.86 and a beta of 1.05.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business posted $2.29 earnings per share. The firm's revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Raymond James will post 9.36 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.46%. Raymond James's dividend payout ratio (DPR) is presently 22.56%.

Raymond James 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.