Voya Investment Management LLC Sells 4,021 Shares of Raymond James (NYSE:RJF)

Voya Investment Management LLC cut its stake in Raymond James (NYSE:RJF - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,743 shares of the financial services provider's stock after selling 4,021 shares during the period. Voya Investment Management LLC's holdings in Raymond James were worth $8,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. TCTC Holdings LLC raised its position 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 boosted its stake in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd grew its stake in Raymond James by 1,142.1% in 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 in the last quarter. Covestor Ltd raised its position in Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after acquiring an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in Raymond James in the fourth quarter valued at approximately $53,000. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company's stock.

Raymond James Stock Up 3.0 %

Shares of RJF traded up $4.08 during trading hours on Friday, hitting $141.79. The stock had a trading volume of 780,418 shares, compared to its average volume of 1,293,993. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The firm has a 50 day simple moving average of $138.90 and a 200-day simple moving average of $151.98. The firm has a market capitalization of $29.05 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 earnings per share. Sell-side analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Tuesday, April 1st. Raymond James's payout ratio is 19.25%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RJF shares. JPMorgan Chase & Co. lowered their price target on shares of Raymond James from $149.00 to $143.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Bank of America cut 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. The Goldman Sachs Group decreased their target price on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company cut their target price on shares of Raymond James from $176.00 to $143.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Cowen reaffirmed a "hold" rating on shares of Raymond James in a research note on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $153.82.

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.