Concurrent Investment Advisors LLC Cuts Holdings in Raymond James (NYSE:RJF)

Concurrent Investment Advisors LLC trimmed its stake in Raymond James (NYSE:RJF) by 8.4% during the fourth quarter, Holdings Channel reports. The fund owned 7,969 shares of the financial services provider’s stock after selling 731 shares during the period. Concurrent Investment Advisors LLC’s holdings in Raymond James were worth $1,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd grew its position in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Gladius Capital Management LP bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $34,000. Peterson Financial Group Inc. bought a new position in shares of Raymond James during the 3rd quarter valued at approximately $37,000. Quarry LP grew its position in shares of Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 187 shares during the period. Finally, Eastern Bank bought a new position in shares of Raymond James during the 4th quarter valued at approximately $68,000. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Performance

NYSE RJF opened at $151.34 on Friday. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market capitalization of $31.01 billion, a PE ratio of 14.77, a P/E/G ratio of 0.90 and a beta of 1.03. The company’s 50 day simple moving average is $161.30 and its two-hundred day simple moving average is $145.31.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.32%. Raymond James’s dividend payout ratio is presently 19.51%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and increased their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. JMP Securities raised their price objective on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $166.09.

Insiders Place Their Bets

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

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.