Balyasny Asset Management L.P. Sells 4,032 Shares of Raymond James (NYSE:RJF)

Balyasny Asset Management L.P. cut its stake in shares of Raymond James (NYSE:RJF - Free Report) by 65.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,164 shares of the financial services provider's stock after selling 4,032 shares during the period. Balyasny Asset Management L.P.'s holdings in Raymond James were worth $336,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock worth $70,000 after purchasing an additional 138 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Raymond James during the 4th quarter worth approximately $105,701,000. J.W. Cole Advisors Inc. acquired a new position in Raymond James in the 4th quarter valued at approximately $511,000. Proficio Capital Partners LLC bought a new position in shares of Raymond James during the fourth quarter valued at $21,334,000. Finally, UMB Bank n.a. lifted its holdings in shares of Raymond James by 7,238.7% during the fourth quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider's stock worth $7,045,000 after purchasing an additional 44,735 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider James E. Bunn sold 3,650 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the sale, the insider now directly owns 78,227 shares in the company, valued at approximately $10,677,203.23. The trade was a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RJF. 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. Morgan Stanley raised 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. StockNews.com cut Raymond James from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Bank of America lowered shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price target for the company. in a report on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Raymond James currently has an average rating of "Hold" and a consensus target price of $153.82.

Raymond James Stock Down 0.8%

RJF stock traded down $1.25 during mid-day trading on Tuesday, reaching $152.56. 761,419 shares of the company traded hands, compared to its average volume of 1,301,605. 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 firm's 50 day moving average price is $139.53 and its 200 day moving average price is $152.56. The stock has a market cap of $30.78 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 0.90 and a beta of 1.02. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) 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 firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 EPS. As a group, equities research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.31%. Raymond James's dividend payout ratio (DPR) is 19.25%.

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.