Bank of New York Mellon Corp Reduces Stock Position in Raymond James (NYSE:RJF)

Bank of New York Mellon Corp lessened its holdings in shares of Raymond James (NYSE:RJF) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,249,060 shares of the financial services provider’s stock after selling 55,419 shares during the period. Bank of New York Mellon Corp’s holdings in Raymond James were worth $194,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coldstream Capital Management Inc. increased its holdings in shares of Raymond James by 1.5% during the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 64 shares in the last quarter. CX Institutional grew its position in Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 66 shares during the last quarter. Crestwood Advisors Group LLC increased its stake in Raymond James by 3.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 67 shares in the last quarter. Stablepoint Partners LLC raised its holdings in Raymond James by 0.5% in the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after buying an additional 73 shares during the last quarter. Finally, Metis Global Partners LLC lifted its stake in shares of Raymond James by 1.4% in the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after buying an additional 82 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,451 shares of company stock worth $10,531,255. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RJF shares. Wells Fargo & Company raised their price target on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Citigroup upped their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Bank of America lifted their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their target price 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. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $166.09.

Raymond James Stock Up 0.1 %

Shares of RJF stock opened at $151.58 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The stock has a market cap of $31.06 billion, a P/E ratio of 14.79, a P/E/G ratio of 0.90 and a beta of 1.03. The company has a 50 day simple moving average of $160.98 and a two-hundred day simple moving average of $146.24.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping 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%. On average, research analysts expect that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

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.