Mn Services Vermogensbeheer B.V. Lowers Holdings in Raymond James (NYSE:RJF)

Mn Services Vermogensbeheer B.V. decreased its holdings in Raymond James (NYSE:RJF) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,100 shares of the financial services provider’s stock after selling 5,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Raymond James were worth $10,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Raymond James by 43.8% in the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 138 shares during the period. Raymond James Financial Inc. acquired a new stake in Raymond James in the fourth quarter valued at approximately $105,701,000. Jefferies Financial Group Inc. acquired a new stake in Raymond James in the fourth quarter valued at approximately $9,366,000. J.W. Cole Advisors Inc. acquired a new stake in Raymond James in the fourth quarter valued at approximately $511,000. Finally, Proficio Capital Partners LLC acquired a new stake in Raymond James in the fourth quarter valued at approximately $21,334,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Transactions at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares in the company, valued at approximately $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $146.61, for a total transaction of $963,227.70. Following the transaction, the insider now owns 74,586 shares in the company, valued at approximately $10,935,053.46. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Raymond James Stock Up 1.9%

RJF stock opened at $148.39 on Tuesday. 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 stock has a market cap of $29.94 billion, a P/E ratio of 14.48, a PEG ratio of 0.90 and a beta of 1.03. The company’s 50 day moving average is $143.04 and its two-hundred day moving average is $150.48. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (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 analysts’ expectations 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 was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $2.31 earnings per share. Research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, July 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.35%. Raymond James’s dividend payout ratio (DPR) is presently 19.25%.

Wall Street Analysts Forecast Growth

RJF has been the topic of several analyst reports. Cowen reaffirmed a “hold” rating on shares of Raymond James in a report on Thursday, April 24th. The Goldman Sachs Group reduced their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company reduced their target price on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced 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. Finally, Citigroup cut their price objective on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $153.82.

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.