Allianz Asset Management GmbH Has $2.23 Million Stake in Raymond James (NYSE:RJF)

Allianz Asset Management GmbH lowered its position in Raymond James (NYSE:RJFFree Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,023 shares of the financial services provider’s stock after selling 1,308 shares during the period. Allianz Asset Management GmbH’s holdings in Raymond James were worth $2,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. Turtle Creek Wealth Advisors LLC bought a new stake in Raymond James in the fourth quarter worth $30,000. CVA Family Office LLC acquired a new position in shares of Raymond James during the 4th quarter valued at about $50,000. Headlands Technologies LLC raised its stake in shares of Raymond James by 139.8% in the 3rd quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 302 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Raymond James by 52.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares during the period. Finally, Addison Advisors LLC raised its position in shares of Raymond James by 32.7% in the fourth quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 136 shares during the period. Institutional investors own 83.83% of the company’s stock.

Insider Activity

In related news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. In other news, insider James E. Bunn sold 11,095 shares of the firm’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 sale, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven M. Raney sold 4,174 shares of the company’s 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 transaction, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Check Out Our Latest Research Report on RJF

Raymond James Price Performance

Shares of Raymond James stock opened at $120.03 on Friday. The firm has a market cap of $24.88 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 0.82 and a beta of 1.01. The firm’s 50-day simple moving average is $124.50 and its 200-day simple moving average is $117.66. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

Raymond James (NYSE:RJFGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. As a group, research analysts expect that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.50%. Raymond James’s payout ratio is presently 21.77%.

About Raymond James

(Free Report)

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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