Howard Bailey Securities LLC Sells 196 Shares of Raymond James (NYSE:RJF)

Howard Bailey Securities LLC decreased its position in Raymond James (NYSE:RJF) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,474 shares of the financial services provider’s stock after selling 196 shares during the period. Howard Bailey Securities LLC’s holdings in Raymond James were worth $384,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its holdings in shares of Raymond James by 1.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 64 shares during the period. CX Institutional grew its stake in shares of Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 66 shares during the period. Stablepoint Partners LLC increased its holdings in Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 73 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Raymond James by 1.4% in the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 82 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after buying an additional 93 shares during the period. Institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America boosted their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target 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, JMP Securities boosted their target price on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $166.09.

Insider Buying and Selling

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the business’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 completion of the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock worth $10,729,488 in the last three months. Insiders own 0.54% of the company’s stock.

Raymond James Price Performance

RJF opened at $161.14 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm has a market cap of $32.93 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.98 and a beta of 1.03. The stock’s 50 day simple moving average is $161.85 and its 200 day simple moving average is $143.04.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, analysts predict that Raymond James will post 11.12 earnings per share for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 annualized dividend and a dividend yield of 1.24%. This is an increase from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio (DPR) is 19.51%.

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.