Amalgamated Bank Sells 7,314 Shares of Raymond James (NYSE:RJF)

Amalgamated Bank cut its holdings in Raymond James (NYSE:RJF - Free Report) by 15.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,961 shares of the financial services provider's stock after selling 7,314 shares during the quarter. Amalgamated Bank's holdings in Raymond James were worth $5,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in Raymond James by 44.5% in the 4th quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider's stock valued at $12,349,000 after acquiring an additional 34,101 shares in the last quarter. American Century Companies Inc. raised its stake in Raymond James by 26.0% during the 3rd quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider's stock valued at $16,668,000 after buying an additional 34,200 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Raymond James by 29.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 335,385 shares of the financial services provider's stock valued at $37,395,000 after buying an additional 77,263 shares during the last quarter. Intrust Bank NA raised its stake in Raymond James by 4.5% during the 4th quarter. Intrust Bank NA now owns 4,968 shares of the financial services provider's stock valued at $554,000 after buying an additional 213 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in Raymond James by 13.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider's stock valued at $273,000 after buying an additional 318 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Price Performance

RJF stock traded down $0.34 during trading on Tuesday, reaching $124.79. The company's stock had a trading volume of 674,358 shares, compared to its average volume of 1,034,992. Raymond James has a 1 year low of $88.81 and a 1 year high of $131.19. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $25.87 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.03. The company's fifty day moving average is $124.88 and its 200-day moving average is $115.83.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the company posted $2.03 EPS. The company's quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts expect that Raymond James will post 9.53 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. Raymond James's payout ratio is presently 21.77%.

Insiders Place Their Bets

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares of the company's stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares of the company's stock, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company's stock, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RJF has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of Raymond James from $132.00 to $131.00 and set a "market perform" rating for the company in a research note on Thursday, April 25th. UBS Group decreased their target price on shares of Raymond James from $116.00 to $115.00 and set a "neutral" rating for the company in a research note on Thursday, January 25th. Bank of America decreased their target price on shares of Raymond James from $145.00 to $141.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Citigroup boosted 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, TD Cowen reduced their price objective on Raymond James from $131.00 to $126.00 and set a "hold" rating for the company in a research note on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Raymond James currently has an average rating of "Hold" and an average target price of $126.22.

Raymond James Company 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.

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