Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Raymond James (NYSE:RJF)

Sumitomo Mitsui Trust Group Inc. cut its position in Raymond James (NYSE:RJFFree Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,652 shares of the financial services provider’s stock after selling 8,488 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Raymond James worth $72,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Raymond James in the third quarter worth about $34,000. Y.D. More Investments Ltd boosted its position in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in Raymond James in the 3rd quarter valued at about $37,000. Finally, Quarry LP lifted its stake in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 187 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the transaction, the insider now directly owns 80,421 shares in the company, valued at approximately $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total value of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at $47,364,303. The trade was a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is currently owned by company insiders.

Raymond James Stock Down 0.6 %

Shares of NYSE RJF opened at $167.46 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $162.09 and its two-hundred day moving average is $142.28. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The firm has a market cap of $34.22 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJFGet Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. Research analysts predict that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, January 2nd. This is a boost from Raymond James’s previous quarterly dividend of $0.45. Raymond James’s dividend payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RJF. JPMorgan Chase & Co. increased their price target on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. UBS Group raised Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. TD Cowen boosted 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. The Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, Bank of America raised their price target on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $166.09.

Read Our Latest Report on Raymond James

Raymond James Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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