Mutual of America Capital Management LLC Cuts Stock Holdings in Raymond James (NYSE:RJF)

Mutual of America Capital Management LLC cut its stake in Raymond James (NYSE:RJF) by 5.2% in the fourth quarter, HoldingsChannel reports. The firm owned 29,778 shares of the financial services provider’s stock after selling 1,624 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Raymond James were worth $4,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new stake in Raymond James in the 3rd quarter valued at about $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 worth $36,000 after buying an additional 127 shares during the period. Peterson Financial Group Inc. acquired a new stake in Raymond James in the third quarter valued at approximately $37,000. Quarry LP lifted its stake in Raymond James by 80.3% in 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 during the last quarter. Finally, Eastern Bank acquired a new position in Raymond James during the 4th quarter worth approximately $68,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Raymond James Price Performance

Shares of NYSE RJF opened at $143.97 on Wednesday. The stock has a market cap of $29.50 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.90 and a beta of 1.03. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a 50 day moving average of $160.60 and a two-hundred day moving average of $147.46. 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 announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, research analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RJF. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a report on Monday, January 6th. 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 research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods raised 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, Citigroup upped their price target on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Nine 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $167.55.

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.