Raymond James Trust N.A. cut its stake in shares of Raymond James (NYSE:RJF) by 70.4% in the 4th quarter, HoldingsChannel reports. The firm owned 85,473 shares of the financial services provider’s stock after selling 203,274 shares during the period. Raymond James Trust N.A.’s holdings in Raymond James were worth $8,178,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. NuWave Investment Management LLC increased its holdings in shares of Raymond James by 1,626.1% in the 4th quarter. NuWave Investment Management LLC now owns 397 shares of the financial services provider’s stock worth $38,000 after buying an additional 374 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Raymond James during the 3rd quarter worth $33,000. Private Advisor Group LLC bought a new stake in shares of Raymond James during the 2nd quarter worth $46,000. CI Investments Inc. bought a new stake in shares of Raymond James during the 3rd quarter worth $123,000. Finally, NEXT Financial Group Inc bought a new stake in shares of Raymond James during the 3rd quarter worth $139,000. Institutional investors and hedge funds own 77.31% of the company’s stock.

In related news, EVP Bella Loykhter Allaire sold 5,313 shares of the business’s stock in a transaction dated Wednesday, December 9th. The shares were sold at an average price of $92.23, for a total transaction of $490,017.99. Following the sale, the executive vice president now owns 60,939 shares of the company’s stock, valued at $5,620,403.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul D. Allison sold 4,150 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $78.07, for a total transaction of $323,990.50. Following the sale, the chief executive officer now directly owns 28,914 shares in the company, valued at approximately $2,257,315.98. The disclosure for this sale can be found here. Insiders have sold 94,357 shares of company stock worth $8,390,555 in the last quarter. 10.82% of the stock is owned by corporate insiders.

Shares of RJF stock traded down $1.65 during mid-day trading on Wednesday, reaching $101.88. The stock had a trading volume of 763,493 shares, compared to its average volume of 849,503. The stock’s 50-day moving average price is $94.92 and its two-hundred day moving average price is $80.19. Raymond James has a 52-week low of $54.21 and a 52-week high of $105.18. The firm has a market capitalization of $14.02 billion, a PE ratio of 16.75 and a beta of 1.33. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.45. Raymond James had a net margin of 10.75% and a return on equity of 13.04%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.95 billion. On average, equities research analysts forecast that Raymond James will post 5.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 19th. Investors of record on Tuesday, January 5th will be given a dividend of $0.39 per share. The ex-dividend date is Monday, January 4th. This represents a $1.56 annualized dividend and a dividend yield of 1.53%. This is a boost from Raymond James’s previous quarterly dividend of $0.37. Raymond James’s payout ratio is currently 21.08%.

A number of analysts have recently issued reports on the stock. Credit Suisse Group lifted their price objective on shares of Raymond James from $80.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, November 2nd. Morgan Stanley lifted their price objective on shares of Raymond James from $93.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, December 14th. Smith Barney Citigroup raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $87.00 to $112.00 in a report on Tuesday, November 17th. JMP Securities lifted their price objective on shares of Raymond James from $92.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, December 16th. Finally, ValuEngine downgraded shares of Raymond James from a “hold” rating to a “sell” rating in a report on Friday, December 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $98.55.

Raymond James 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.

See Also: Stock Symbol

Want to see what other hedge funds are holding RJF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raymond James (NYSE:RJF).

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

Receive News & Ratings for Raymond James Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James and related companies with MarketBeat.com's FREE daily email newsletter.