Logan Capital Management Inc. Reduces Stake in Raymond James (NYSE:RJF)

Logan Capital Management Inc. lessened its holdings in shares of Raymond James (NYSE:RJF) by 32.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,909 shares of the financial services provider’s stock after selling 16,590 shares during the period. Logan Capital Management Inc.’s holdings in Raymond James were worth $4,153,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in Raymond James by 1.6% during the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock worth $73,940,000 after purchasing an additional 9,217 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Raymond James by 1.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 67,439 shares of the financial services provider’s stock valued at $8,259,000 after buying an additional 1,026 shares during the last quarter. World Investment Advisors LLC raised its stake in Raymond James by 7.3% during the 3rd quarter. World Investment Advisors LLC now owns 28,290 shares of the financial services provider’s stock worth $3,464,000 after acquiring an additional 1,924 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Raymond James by 9.4% in the third quarter. Sanctuary Advisors LLC now owns 25,549 shares of the financial services provider’s stock valued at $3,129,000 after acquiring an additional 2,193 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its stake in Raymond James by 18.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,788 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RJF. Jefferies Financial Group lifted their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Bank of America lifted their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company restated an “equal weight” rating and set a $169.00 target price (up from $152.00) on shares of Raymond James in a research report on Thursday. Finally, TD Cowen upped their price target on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Raymond James currently has an average rating of “Hold” and a consensus price target of $142.45.

Insider Buying and Selling at Raymond James

In other news, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the completion of the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,621 shares of company stock valued at $9,134,788. 9.74% of the stock is owned by corporate insiders.

Raymond James Price Performance

Shares of NYSE RJF opened at $160.49 on Friday. The stock has a fifty day moving average price of $152.45 and a 200 day moving average price of $130.02. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company has a market cap of $32.75 billion, a PE ratio of 16.53, a P/E/G ratio of 0.94 and a beta of 1.00.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. During the same quarter last year, the business earned $2.13 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts forecast that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, January 2nd. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s payout ratio is currently 20.60%.

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.