Geneva Capital Management LLC Lowers Stock Holdings in Raymond James (NYSE:RJF)

Geneva Capital Management LLC cut its stake in Raymond James (NYSE:RJF) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,715 shares of the financial services provider’s stock after selling 3,276 shares during the period. Geneva Capital Management LLC owned about 0.06% of Raymond James worth $16,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Ontario Teachers Pension Plan Board lifted its holdings in shares of Raymond James by 4.4% in 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 purchasing an additional 240 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Raymond James by 86.2% in 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 purchasing an additional 2,047 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Raymond James by 25.4% in 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 last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Raymond James by 44.5% in 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 last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Raymond James by 26.0% in 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 last quarter. 83.83% of the stock is currently owned by hedge funds and other 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 on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at approximately $6,172,599.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on RJF. Morgan Stanley boosted their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. TD Cowen upped their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday. Finally, Jefferies Financial Group upped their price objective on Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $129.89.

Raymond James Price Performance

Shares of RJF traded up $0.91 on Thursday, reaching $120.70. The stock had a trading volume of 1,521,348 shares, compared to its average volume of 1,017,091. The firm has a market capitalization of $25.02 billion, a PE ratio of 14.44, a PEG ratio of 0.80 and a beta of 1.02. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $122.09 and a 200 day moving average of $119.72. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.03 EPS. Sell-side analysts expect that Raymond James will post 9.54 EPS for the current year.

Raymond James Dividend Announcement

The business also recently announced 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 1.49%. The ex-dividend date is Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

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.