Worldquant Millennium Advisors LLC Trims Stock Position in Raymond James (NYSE:RJF)

Worldquant Millennium Advisors LLC decreased its position in Raymond James (NYSE:RJF) by 77.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,993 shares of the financial services provider’s stock after selling 183,700 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Raymond James were worth $8,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RJF. TCTC Holdings LLC raised its position in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 106 shares during the period. Y.D. More Investments Ltd raised its position 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 purchasing an additional 127 shares during the period. Plato Investment Management Ltd raised its position in Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the period. Covestor Ltd raised its position in Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 122 shares during the period. Finally, Mizuho Bank Ltd. purchased a new stake in Raymond James in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Stock Performance

Shares of RJF stock opened at $148.48 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average price of $139.91 and a 200 day moving average price of $152.54. The company has a market cap of $29.96 billion, a P/E ratio of 14.49, a PEG ratio of 0.90 and a beta of 1.02. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32.

Raymond James (NYSE:RJF) last issued its 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 firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. Sell-side analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. Raymond James’s payout ratio is currently 19.25%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their target price on Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Morgan Stanley boosted their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. JMP Securities restated a “market outperform” rating and issued a $175.00 price target on shares of Raymond James in a research note on Thursday, April 24th. Finally, StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $153.82.

Insider Buying and Selling

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the transaction, the insider now owns 78,227 shares in the company, valued at $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 available at this hyperlink. Insiders own 0.54% of the company’s stock.

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.