Chevy Chase Trust Holdings LLC Sells 2,471 Shares of Raymond James (NYSE:RJF)

Chevy Chase Trust Holdings LLC decreased its position in shares of Raymond James (NYSE:RJF) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,381 shares of the financial services provider’s stock after selling 2,471 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Raymond James were worth $12,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after acquiring an additional 7,028 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Raymond James by 390.7% during the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock valued at $1,032,000 after acquiring an additional 6,649 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James during the third quarter valued at approximately $3,561,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Raymond James by 105.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock valued at $3,834,000 after acquiring an additional 15,940 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Raymond James by 529.4% during the first quarter. Cetera Investment Advisers now owns 21,656 shares of the financial services provider’s stock valued at $2,781,000 after acquiring an additional 18,215 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Up 0.2 %

RJF stock opened at $165.76 on Thursday. The stock’s fifty day simple moving average is $146.28 and its two-hundred day simple moving average is $127.97. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The stock has a market cap of $33.82 billion, a P/E ratio of 16.99, a P/E/G ratio of 0.97 and a beta of 1.00.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts expect that Raymond James will post 10.83 EPS for the current year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 18.54%.

Insider Activity

In related news, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. The trade was a 15.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,621 shares of company stock valued at $9,134,788 in the last 90 days. Insiders own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

RJF has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. JMP Securities lifted their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.91.

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.