Lake Street Advisors Group LLC Lowers Stock Position in Raymond James (NYSE:RJF)

Lake Street Advisors Group LLC reduced its stake in shares of Raymond James (NYSE:RJF) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,304 shares of the financial services provider’s stock after selling 90 shares during the period. Lake Street Advisors Group LLC’s holdings in Raymond James were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new position in Raymond James during the third quarter valued at approximately $34,000. Y.D. More Investments Ltd increased its stake in shares of Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Peterson Financial Group Inc. bought a new position in Raymond James in the 3rd quarter worth $37,000. Quarry LP boosted its stake in shares of Raymond James by 80.3% during the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 187 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Raymond James during the 4th quarter worth approximately $68,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JMP Securities increased their price target on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price objective on shares of Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods boosted their target price on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Raymond James currently has an average rating of “Hold” and an average target price of $166.09.

Insiders Place Their Bets

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value of $8,365,000.00. Following the completion of the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,451 shares of company stock valued at $10,531,255. 0.54% of the stock is currently owned by insiders.

Raymond James Price Performance

RJF stock opened at $151.58 on Friday. The stock has a market cap of $31.06 billion, a PE ratio of 14.79, a P/E/G ratio of 0.90 and a beta of 1.03. The company has a 50-day moving average price of $160.98 and a 200 day moving average price of $146.24. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Equities research analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.32%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

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.