Raymond James (NYSE:RJF) Position Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in Raymond James (NYSE:RJF) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,220 shares of the financial services provider’s stock after selling 2,050 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Raymond James were worth $3,704,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Raymond James by 80.5% during the 1st quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after purchasing an additional 2,510,966 shares during the period. Norges Bank acquired a new stake in shares of Raymond James in the fourth quarter worth $206,765,000. JPMorgan Chase & Co. boosted its position in Raymond James by 26.7% during the first quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock valued at $641,330,000 after purchasing an additional 1,448,047 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Raymond James by 214.5% during the first quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock valued at $106,474,000 after purchasing an additional 778,644 shares during the last quarter. Finally, Morgan Stanley boosted its position in Raymond James by 35.1% during the fourth quarter. Morgan Stanley now owns 2,278,272 shares of the financial services provider’s stock valued at $243,433,000 after purchasing an additional 591,327 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on RJF. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. JMP Securities reissued a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. TD Cowen upped their price target on Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Citigroup upped their price objective on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $117.00 price objective (up from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.88.

Raymond James Stock Down 0.6 %

Shares of RJF opened at $121.82 on Wednesday. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. The business’s fifty day moving average price is $121.75 and its two-hundred day moving average price is $111.25. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $2.29 EPS. On average, analysts predict that Raymond James will post 9.36 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. 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 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio (DPR) is currently 22.56%.

Insider Activity

In related news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the purchase, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Raymond James news, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction that occurred 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 purchase, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

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.