Systematic Financial Management LP Trims Stake in Raymond James (NYSE:RJF)

Systematic Financial Management LP reduced its position in Raymond James (NYSE:RJF) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,561 shares of the financial services provider’s stock after selling 180 shares during the quarter. Systematic Financial Management LP’s holdings in Raymond James were worth $4,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 138 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Raymond James in the 4th quarter worth about $105,701,000. J.W. Cole Advisors Inc. purchased a new position in shares of Raymond James in the 4th quarter worth about $511,000. Proficio Capital Partners LLC purchased a new position in shares of Raymond James in the 4th quarter worth about $21,334,000. Finally, UMB Bank n.a. boosted its holdings in shares of Raymond James by 7,238.7% in the 4th quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after purchasing an additional 44,735 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Raymond James in a report on Thursday, April 24th. JMP Securities reiterated a “market outperform” rating and issued a $175.00 price objective on shares of Raymond James in a report on Thursday, April 24th. Wells Fargo & Company dropped their target price on Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group dropped their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus price target of $153.82.

Raymond James Trading Up 0.6%

Shares of RJF stock opened at $153.93 on Friday. The stock has a market capitalization of $31.06 billion, a PE ratio of 15.02, a P/E/G ratio of 0.90 and a beta of 1.02. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The business has a 50-day moving average of $139.29 and a 200 day moving average of $152.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 EPS. As a group, sell-side analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, April 1st. Raymond James’s payout ratio is 19.25%.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the completion of the transaction, the insider now owns 78,227 shares of the company’s stock, valued at $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Raymond James 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.