Raymond James & Associates Lowers Holdings in Raymond James (RJF)

Raymond James & Associates lowered its position in shares of Raymond James (NYSE:RJF) by 0.0% in the first quarter, HoldingsChannel.com reports. The fund owned 467,406 shares of the financial services provider’s stock after selling 144 shares during the quarter. Raymond James & Associates’ holdings in Raymond James were worth $37,584,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Montag & Caldwell LLC lifted its position in Raymond James by 4.2% during the 1st quarter. Montag & Caldwell LLC now owns 3,632 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 146 shares during the period. First Hawaiian Bank lifted its holdings in shares of Raymond James by 1.6% in the 1st quarter. First Hawaiian Bank now owns 9,463 shares of the financial services provider’s stock valued at $761,000 after buying an additional 150 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Raymond James by 1.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,657 shares of the financial services provider’s stock valued at $1,339,000 after buying an additional 158 shares during the period. CSat Investment Advisory L.P. lifted its holdings in shares of Raymond James by 86.5% in the 4th quarter. CSat Investment Advisory L.P. now owns 345 shares of the financial services provider’s stock valued at $26,000 after buying an additional 160 shares during the period. Finally, Empire Life Investments Inc. lifted its holdings in shares of Raymond James by 3.1% in the 4th quarter. Empire Life Investments Inc. now owns 5,314 shares of the financial services provider’s stock valued at $395,000 after buying an additional 162 shares during the period. 71.21% of the stock is owned by institutional investors.

Shares of RJF stock opened at $84.00 on Friday. The stock has a market capitalization of $11.85 billion, a PE ratio of 12.98 and a beta of 1.58. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. Raymond James has a 52-week low of $69.11 and a 52-week high of $102.17.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.14. Raymond James had a return on equity of 15.90% and a net margin of 12.90%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business earned $1.63 EPS. Raymond James’s revenue for the quarter 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 earnings per share for the current fiscal year.

In related news, CFO Jeffrey P. Julien sold 28,073 shares of Raymond James stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $90.99, for a total value of $2,554,362.27. Following the completion of the transaction, the chief financial officer now owns 67,738 shares in the company, valued at approximately $6,163,480.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven M. Raney sold 2,926 shares of Raymond James stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $90.60, for a total value of $265,095.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,156 shares of company stock valued at $9,951,492. 10.74% of the stock is owned by company insiders.

RJF has been the subject of several analyst reports. Zacks Investment Research raised Raymond James from a “sell” rating to a “hold” rating in a report on Monday, January 28th. Citigroup boosted their price objective on Raymond James from $87.00 to $93.00 and gave the company a “neutral” rating in a report on Monday, April 15th. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Argus reissued a “buy” rating on shares of Raymond James in a report on Tuesday, April 30th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Raymond James in a report on Thursday, January 24th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $94.63.

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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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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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