Central Bank & Trust Co. Has $221,000 Position in Raymond James (NYSE:RJF)

Central Bank & Trust Co. cut its holdings in Raymond James (NYSE:RJF) by 93.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,807 shares of the financial services provider’s stock after selling 25,034 shares during the quarter. Central Bank & Trust Co.’s holdings in Raymond James were worth $221,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC boosted its holdings in shares of Raymond James by 3,960.0% in the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the period. Quarry LP bought a new position in Raymond James during the 2nd quarter worth about $29,000. Smithfield Trust Co raised its stake in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd lifted its holdings in shares of Raymond James by 77.0% in the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the third quarter worth about $32,000. 83.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RJF shares. JMP Securities lifted their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. The Goldman Sachs Group raised their target price on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Morgan Stanley raised their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $140.91.

Raymond James Stock Performance

RJF opened at $146.45 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 12-month low of $98.72 and a 12-month high of $151.59. The business has a 50 day moving average of $127.94 and a 200-day moving average of $122.33. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.73 and a beta of 0.99.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 EPS. On average, equities research analysts expect that Raymond James will post 10.73 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.23%. Raymond James’s dividend payout ratio is currently 18.54%.

About Raymond James

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.