Fisher Asset Management LLC Lowers Position in Raymond James (NYSE:RJF)

Fisher Asset Management LLC cut its position in shares of Raymond James (NYSE:RJF) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,300 shares of the financial services provider’s stock after selling 55,083 shares during the quarter. Fisher Asset Management LLC owned about 0.20% of Raymond James worth $46,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Raymond James during the fourth quarter valued at approximately $30,000. Addison Advisors LLC boosted its holdings in Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 103 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Raymond James in the fourth quarter worth $50,000. Headlands Technologies LLC increased its holdings in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JMP Securities restated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. TD Cowen lowered their price target on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Finally, UBS Group dropped their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $126.22.

Raymond James Price Performance

NYSE RJF opened at $124.42 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $26.01 billion, a P/E ratio of 15.04, a PEG ratio of 0.84 and a beta of 1.03. The company has a 50-day moving average price of $123.65 and a 200-day moving average price of $113.31. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the business posted $2.03 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Raymond James will post 9.56 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is presently 21.77%.

Insiders Place Their Bets

In other news, Director Art A. Garcia purchased 879 shares of the stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares in the company, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James 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.