Wilmington Savings Fund Society FSB Trims Stake in Raymond James (NYSE:RJF)

Wilmington Savings Fund Society FSB cut its stake in Raymond James (NYSE:RJF) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,870 shares of the financial services provider’s stock after selling 2,569 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Raymond James were worth $10,076,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its stake in shares of Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Raymond James during the third quarter valued at $32,000. Gladius Capital Management LP bought a new stake in shares of Raymond James during the 3rd quarter valued at $34,000. Y.D. More Investments Ltd boosted its holdings 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 valued at $36,000 after buying an additional 127 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Raymond James in the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Price Performance

RJF opened at $167.46 on Friday. The company’s 50-day simple moving average is $162.09 and its two-hundred day simple moving average is $141.86. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The stock has a market capitalization of $34.22 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, analysts predict that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is presently 19.51%.

Analyst Ratings Changes

RJF has been the topic of several research reports. StockNews.com raised shares of Raymond James from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. JMP Securities raised their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Morgan Stanley lifted their price target on Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $166.09.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,621 shares of company stock worth $10,729,488. 0.54% of the stock is owned by insiders.

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.