Raymond James (NYSE:RJF) Shares Sold by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC reduced its stake in Raymond James (NYSE:RJF) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,728 shares of the financial services provider’s stock after selling 800 shares during the period. Wellspring Financial Advisors LLC’s holdings in Raymond James were worth $3,530,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RJF. TCTC Holdings LLC lifted its holdings in shares of Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Plato Investment Management Ltd grew its position in shares of Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the last quarter. Quarry LP increased its holdings in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the period. Finally, Mizuho Bank Ltd. bought a new stake in Raymond James in the 4th quarter valued at about $53,000. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Performance

Shares of RJF opened at $123.51 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The firm’s 50 day moving average is $151.43 and its 200-day moving average is $151.20. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The stock has a market capitalization of $25.31 billion, a P/E ratio of 12.05, a P/E/G ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities research analysts anticipate that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.62%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RJF shares. Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group lowered their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup reduced their price target on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Bank of America increased their target price on shares of Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $164.64.

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.