Raymond James (NYSE:RJF) Shares Sold by West Michigan Advisors LLC

West Michigan Advisors LLC lessened its stake in Raymond James (NYSE:RJF) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,241 shares of the financial services provider’s stock after selling 379 shares during the period. West Michigan Advisors LLC’s holdings in Raymond James were worth $1,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Raymond James by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after acquiring an additional 9,217 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Raymond James in the 3rd quarter valued at approximately $3,561,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after purchasing an additional 7,028 shares in the last quarter. UMB Bank n.a. boosted its holdings in Raymond James by 7,238.7% in the 4th quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock valued at $7,045,000 after purchasing an additional 44,735 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in Raymond James in the 4th quarter valued at approximately $511,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Price Performance

Shares of NYSE:RJF opened at $154.61 on Friday. Raymond James has a 12 month low of $104.24 and a 12 month 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 business’s 50 day simple moving average is $160.97 and its 200-day simple moving average is $146.55. The firm has a market capitalization of $31.68 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 0.90 and a beta of 1.03.

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, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, equities analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company lifted their price objective on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods lifted their price objective on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, JMP Securities lifted their price objective on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a 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’s stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $166.09.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,451 shares of company stock valued at $10,531,255. 0.54% of the stock is owned by corporate insiders.

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.