Sumitomo Mitsui Trust Holdings Inc. Sells 8,280 Shares of Raymond James (NYSE:RJF)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Raymond James (NYSE:RJF) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 503,108 shares of the financial services provider’s stock after selling 8,280 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Raymond James were worth $56,097,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RJF. Wellington Management Group LLP boosted its position in shares of Raymond James by 80.5% during the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after buying an additional 2,510,966 shares during the last quarter. Norges Bank bought a new position in Raymond James during the 4th quarter valued at about $206,765,000. JPMorgan Chase & Co. boosted its holdings in shares of Raymond James by 26.7% during the 1st quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock valued at $641,330,000 after acquiring an additional 1,448,047 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Raymond James by 214.5% in the first quarter. Thrivent Financial for Lutherans now owns 1,141,564 shares of the financial services provider’s stock worth $106,474,000 after acquiring an additional 778,644 shares during the period. Finally, Morgan Stanley raised its holdings in shares of 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. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $116.00 target price (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $117.00 price objective (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Citigroup raised their target price on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. UBS Group reduced their price target on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Finally, TD Cowen raised their price objective on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $123.88.

Insiders Place Their Bets

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

Raymond James Stock Up 0.0 %

NYSE RJF opened at $121.96 on Friday. Raymond James has a 52 week low of $82.00 and a 52 week high of $131.19. 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 company has a market capitalization of $25.49 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The stock’s 50-day moving average price is $122.16 and its 200-day moving average price is $111.40.

Raymond James (NYSE:RJF) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 EPS. On average, equities research analysts predict that Raymond James will post 9.36 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 22.56%.

Raymond James Company 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.