Sherbrooke Park Advisers LLC Has $235,000 Position in Raymond James (NYSE:RJF)

Sherbrooke Park Advisers LLC lessened its holdings in shares of Raymond James (NYSE:RJF) by 34.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,514 shares of the financial services provider’s stock after selling 796 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Raymond James were worth $235,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. TCTC Holdings LLC boosted its position in shares of Raymond James by 176.7% in the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its stake 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 period. Plato Investment Management Ltd boosted its holdings in Raymond James by 1,142.1% during the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after buying an additional 217 shares during the last quarter. Covestor Ltd grew its position in shares of Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after buying an additional 122 shares during the period. Finally, Mizuho Bank Ltd. bought a new stake in shares of Raymond James in the 4th quarter valued at about $53,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of Raymond James stock opened at $153.59 on Tuesday. 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 firm has a market cap of $30.99 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The stock’s 50-day moving average is $139.53 and its 200-day moving average is $152.56. Raymond James has a one year low of $104.24 and a one year high of $174.32.

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

Raymond James Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on RJF shares. Cowen reissued a “hold” rating on shares of Raymond James in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $149.00 to $143.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company decreased their price target on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. JMP Securities reaffirmed a “market outperform” rating and set a $175.00 price objective on shares of Raymond James in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their target price on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $153.82.

Insider Buying and Selling

In related news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.