Consolidated Planning Corp Reduces Position in Raymond James (NYSE:RJF)

Consolidated Planning Corp lessened its holdings in shares of Raymond James (NYSE:RJF) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,062 shares of the financial services provider’s stock after selling 172 shares during the quarter. Consolidated Planning Corp’s holdings in Raymond James were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of RJF. CWM LLC boosted its stake in shares of Raymond James by 2.8% during the 3rd quarter. CWM LLC now owns 11,853 shares of the financial services provider’s stock worth $1,452,000 after acquiring an additional 325 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Raymond James by 474.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,332 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 1,100 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Raymond James during the 3rd quarter worth $315,000. Bill Few Associates Inc. boosted its stake in shares of Raymond James by 94.3% during the 3rd quarter. Bill Few Associates Inc. now owns 10,095 shares of the financial services provider’s stock worth $1,236,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Raymond James by 5.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,440 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RJF. Keefe, Bruyette & Woods lifted their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Citigroup lifted their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JMP Securities lifted their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company lifted their target price on shares of Raymond James from $168.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $166.09.

Insider Transactions at Raymond James

In related news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 283,110 shares in the company, valued at approximately $47,364,303. This represents a 15.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,621 shares of company stock worth $10,729,488 in the last three months. Insiders own 0.54% of the company’s stock.

Raymond James Stock Performance

Shares of NYSE RJF opened at $161.14 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market cap of $32.93 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.98 and a beta of 1.03. The firm’s fifty day moving average is $161.85 and its two-hundred day moving average is $143.04. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. As a group, analysts anticipate that Raymond James will post 11.12 EPS for the current fiscal year.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Raymond James’s payout ratio is 19.51%.

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.