Tower Bridge Advisors Sells 400 Shares of Raymond James (NYSE:RJF)

Tower Bridge Advisors trimmed its position in Raymond James (NYSE:RJF) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,054 shares of the financial services provider’s stock after selling 400 shares during the period. Tower Bridge Advisors’ holdings in Raymond James were worth $1,717,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its holdings in shares of Raymond James by 121.0% during the 4th 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 in the last quarter. Gladius Capital Management LP purchased a new position in Raymond James during the 3rd quarter valued at about $34,000. Peterson Financial Group Inc. bought a new stake in Raymond James during the third quarter worth about $37,000. Quarry LP boosted its stake in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Raymond James in the fourth quarter worth about $68,000. Institutional investors own 83.83% of the company’s stock.

Insider Activity

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the transaction, the chief executive officer now owns 283,110 shares in the company, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,451 shares of company stock valued at $10,531,255 in the last quarter. 0.54% of the stock is currently owned by insiders.

Raymond James Trading Up 1.9 %

Shares of RJF stock opened at $154.61 on Friday. 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 has a 12-month low of $104.24 and a 12-month high of $174.32. The stock has a market capitalization of $31.68 billion, a P/E ratio of 15.08, a P/E/G ratio of 0.90 and a beta of 1.03. The firm’s 50 day moving average is $160.97 and its 200 day moving average is $146.55.

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

Raymond James Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Citigroup lifted their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wells Fargo & Company raised their price target on Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Finally, JMP Securities upped 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. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $166.09.

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.