Oppenheimer Asset Management Inc. Reduces Stake in Raymond James (NYSE:RJF)

Oppenheimer Asset Management Inc. lowered its position in Raymond James (NYSE:RJF) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,127 shares of the financial services provider’s stock after selling 253 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Raymond James were worth $5,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of RJF. Gladius Capital Management LP purchased a new stake in Raymond James in the third quarter valued at approximately $34,000. Y.D. More Investments Ltd boosted its position in Raymond James by 121.0% in 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 last quarter. Peterson Financial Group Inc. purchased a new stake in Raymond James in the third quarter valued at approximately $37,000. Quarry LP boosted its position in Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Raymond James in the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Trading Up 1.9 %

Shares of RJF stock opened at $154.61 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The company has a market cap of $31.68 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.90 and a beta of 1.03. The stock has a 50 day simple moving average of $160.97 and a 200-day simple moving average of $146.55. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32.

Raymond James (NYSE:RJF) last announced 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%. On average, equities research analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is currently 19.51%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price objective on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities upped their price objective on Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective 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, UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Nine investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $166.09.

Insider Activity at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the 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 completion of the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the transaction, the insider now directly owns 80,421 shares of the company’s stock, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,451 shares of company stock valued at $10,531,255. 0.54% of the stock is owned by insiders.

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.