Raymond James (NYSE:RJF) Shares Sold by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC trimmed its holdings in shares of Raymond James (NYSE:RJF) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,147 shares of the financial services provider’s stock after selling 788 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Raymond James were worth $489,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RJF. Coldstream Capital Management Inc. boosted its position in Raymond James by 1.5% during the third 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. Metis Global Partners LLC boosted its holdings in shares of Raymond James by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after buying an additional 82 shares during the period. Wedmont Private Capital lifted its position in Raymond James by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 86 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in Raymond James by 3.9% during the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 93 shares during the period. Finally, MML Investors Services LLC boosted its stake in Raymond James by 0.4% during the 3rd quarter. MML Investors Services LLC now owns 22,467 shares of the financial services provider’s stock valued at $2,751,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Activity

In other news, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total transaction of $571,554.62. Following the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,621 shares of company stock valued at $10,729,488 in the last ninety days. 0.54% of the stock is owned by insiders.

Raymond James Trading Up 2.2 %

Shares of RJF opened at $164.89 on Friday. The stock’s fifty day simple moving average is $160.60 and its 200-day simple moving average is $136.16. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $33.70 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.02. Raymond James has a 12-month low of $104.24 and a 12-month high of $171.38.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. As a group, research analysts predict that Raymond James will post 10.99 earnings per share for the current year.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.50 dividend. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. This represents a $2.00 annualized dividend and a yield of 1.21%. Raymond James’s dividend payout ratio is presently 20.60%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JMP Securities raised their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their target price for the company from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group increased their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Raymond James presently has an average rating of “Hold” and a consensus target price of $156.09.

Raymond James Company 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.