Geneva Capital Management LLC Has $14.27 Million Position in Raymond James (NYSE:RJF)

Geneva Capital Management LLC lessened its stake in Raymond James (NYSE:RJF) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,991 shares of the financial services provider’s stock after selling 4,742 shares during the quarter. Geneva Capital Management LLC owned about 0.06% of Raymond James worth $14,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of RJF. Wellington Management Group LLP raised its stake in shares of Raymond James by 2.2% during the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares during the last quarter. Earnest Partners LLC lifted its stake in Raymond James by 4.8% in the third quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after buying an additional 98,664 shares during the period. Northern Trust Corp boosted its holdings in shares of Raymond James by 2.5% during the 3rd quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock worth $209,155,000 after buying an additional 51,239 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Raymond James by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,082,745 shares of the financial services provider’s stock valued at $120,726,000 after acquiring an additional 88,700 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Raymond James by 11.9% during the 3rd quarter. Sei Investments Co. now owns 635,340 shares of the financial services provider’s stock valued at $63,807,000 after acquiring an additional 67,663 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity at Raymond James

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

Analyst Ratings Changes

RJF has been the topic of several research reports. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. UBS Group reduced their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Bank of America decreased their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of 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. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $126.22.

Raymond James Price Performance

RJF stock traded up $0.18 during mid-day trading on Friday, hitting $125.34. 64,640 shares of the stock were exchanged, compared to its average volume of 1,047,123. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The stock has a market capitalization of $26.20 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.85 and a beta of 1.03. The business has a fifty day moving average price of $124.10 and a 200 day moving average price of $114.05. Raymond James has a 12 month low of $84.06 and a 12 month high of $131.19.

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

Raymond James Dividend Announcement

The business 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

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.