Private Capital Management LLC lessened its stake in Raymond James (NYSE:RJF) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,435 shares of the financial services provider’s stock after selling 11,330 shares during the period. Raymond James comprises about 9.0% of Private Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Private Capital Management LLC’s holdings in Raymond James were worth $12,177,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of RJF. Vanguard Group Inc boosted its holdings in Raymond James by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 13,760,818 shares of the financial services provider’s stock valued at $1,266,683,000 after purchasing an additional 182,616 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Raymond James by 2.3% in the 4th quarter. Advisors Asset Management Inc. now owns 12,138 shares of the financial services provider’s stock worth $903,000 after acquiring an additional 273 shares during the last quarter. Dupont Capital Management Corp lifted its holdings in shares of Raymond James by 618.3% in the 4th quarter. Dupont Capital Management Corp now owns 6,357 shares of the financial services provider’s stock worth $473,000 after acquiring an additional 5,472 shares during the last quarter. Creative Planning lifted its holdings in shares of Raymond James by 5.5% in the 4th quarter. Creative Planning now owns 6,577 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 343 shares during the last quarter. Finally, Buckingham Capital Management Inc. lifted its holdings in shares of Raymond James by 33.0% in the 4th quarter. Buckingham Capital Management Inc. now owns 14,264 shares of the financial services provider’s stock worth $1,061,000 after acquiring an additional 3,540 shares during the last quarter. Institutional investors and hedge funds own 70.06% of the company’s stock.
Shares of NYSE:RJF traded down $1.49 during trading hours on Friday, reaching $82.08. The stock had a trading volume of 12,463 shares, compared to its average volume of 786,969. Raymond James has a 1 year low of $69.11 and a 1 year high of $99.45. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. The company has a market cap of $11.75 billion, a PE ratio of 12.65 and a beta of 1.59.
Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.14. Raymond James had a net margin of 12.90% and a return on equity of 15.90%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts expect that Raymond James will post 7.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, June 28th. Raymond James’s dividend payout ratio is presently 21.02%.
RJF has been the topic of several recent analyst reports. Wells Fargo & Co upped their price objective on shares of Raymond James from $92.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Zacks Investment Research raised shares of Raymond James from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Thursday, April 4th. Argus began coverage on shares of Raymond James in a research note on Wednesday, March 6th. They set a “buy” rating and a $92.00 target price on the stock. Compass Point began coverage on shares of Raymond James in a research note on Monday, March 11th. They set a “buy” rating and a $96.00 target price on the stock. Finally, ValuEngine downgraded shares of Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $94.63.
In other Raymond James news, CEO Steven M. Raney sold 2,926 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $90.60, for a total value of $265,095.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jonathan N. Santelli sold 725 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $84.82, for a total transaction of $61,494.50. Following the completion of the sale, the executive vice president now directly owns 3,003 shares in the company, valued at $254,714.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,881 shares of company stock worth $10,012,987. Insiders own 10.74% of the company’s stock.
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.
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