Amalgamated Bank Sells 2,801 Shares of Raymond James (NYSE:RJF)

Amalgamated Bank lessened its stake in Raymond James (NYSE:RJF) by 5.7% in the fourth quarter, HoldingsChannel reports. The firm owned 46,275 shares of the financial services provider’s stock after selling 2,801 shares during the period. Amalgamated Bank’s holdings in Raymond James were worth $5,160,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Steph & Co. increased its position in Raymond James by 9.3% during the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock worth $119,000 after buying an additional 91 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Raymond James by 12.4% during the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 96 shares during the last quarter. Addison Advisors LLC boosted its position in Raymond James by 32.9% during the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares during the period. SVB Wealth LLC raised its position in shares of Raymond James by 5.6% in the third quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 108 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of Raymond James by 3.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock worth $387,000 after buying an additional 118 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of Raymond James stock opened at $125.57 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. Raymond James has a one year low of $84.06 and a one year high of $131.19. The business has a 50-day simple moving average of $123.65 and a 200 day simple moving average of $113.48. The firm has a market capitalization of $26.25 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.85 and a beta of 1.03.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Raymond James will post 9.56 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.43%. Raymond James’s payout ratio is 21.77%.

Insider Activity at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Steven M. Raney sold 4,174 shares of Raymond James stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RJF shares. Morgan Stanley lifted their target price on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods dropped their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. TD Cowen reduced their price objective on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America cut their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.22.

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.