Park Place Capital Corp Sells 459 Shares of Raymond James (NYSE:RJF)

Park Place Capital Corp trimmed its holdings in Raymond James (NYSE:RJF) by 27.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,218 shares of the financial services provider’s stock after selling 459 shares during the quarter. Park Place Capital Corp’s holdings in Raymond James were worth $156,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RJF. Ontario Teachers Pension Plan Board raised its holdings in Raymond James by 4.4% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider’s stock valued at $628,000 after buying an additional 240 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Raymond James by 86.2% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider’s stock valued at $493,000 after buying an additional 2,047 shares during the last quarter. Hsbc Holdings PLC increased its position in Raymond James by 25.4% during the 4th quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider’s stock valued at $49,603,000 after purchasing an additional 89,981 shares during the period. BNP Paribas Financial Markets increased its position in Raymond James by 44.5% during the 4th quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider’s stock valued at $12,349,000 after purchasing an additional 34,101 shares during the period. Finally, American Century Companies Inc. increased its position in Raymond James by 26.0% during the 3rd quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider’s stock valued at $16,668,000 after purchasing an additional 34,200 shares during the period. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction that occurred on 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 directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

Raymond James stock traded up $0.04 during midday trading on Monday, hitting $123.20. The stock had a trading volume of 611,249 shares, compared to its average volume of 1,020,839. The firm’s fifty day moving average is $122.67 and its two-hundred day moving average is $119.28. The company has a market capitalization of $25.54 billion, a PE ratio of 14.95, a P/E/G ratio of 0.84 and a beta of 1.02. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the business earned $2.03 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Raymond James will post 9.55 EPS for the current year.

Raymond James Announces Dividend

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. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Wall Street Analysts Forecast Growth

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

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.