Nisa Investment Advisors LLC Sells 454 Shares of Raymond James (NYSE:RJF)

Nisa Investment Advisors LLC reduced its holdings in Raymond James (NYSE:RJF) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 92,368 shares of the financial services provider’s stock after selling 454 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Raymond James were worth $14,348,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC lifted its position in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares during the period. Quarry LP bought a new stake in Raymond James in the second quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the third quarter valued at about $32,000. Gladius Capital Management LP bought a new position in shares of Raymond James during the 3rd quarter worth about $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James in the 3rd quarter valued at about $37,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of Raymond James stock opened at $171.49 on Friday. The firm has a market capitalization of $35.04 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 1.03 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $161.43 and its 200 day simple moving average is $137.82. Raymond James has a 12 month low of $104.24 and a 12 month high of $173.15.

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 company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.13 EPS. As a group, analysts anticipate that Raymond James will post 11.02 EPS 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 represents a $2.00 dividend on an annualized basis and a yield of 1.17%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. Raymond James’s payout ratio is presently 20.60%.

Insider Buying and Selling at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares of the company’s stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $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. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 over the last three months. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

RJF has been the subject of several recent research reports. Citigroup boosted 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. Morgan Stanley upped their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Bank of America lifted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JMP Securities upped their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $156.09.

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.