Dana Investment Advisors Inc. Sells 3,471 Shares of Raymond James (NYSE:RJF)

Dana Investment Advisors Inc. decreased its stake in shares of Raymond James (NYSE:RJF) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,614 shares of the financial services provider’s stock after selling 3,471 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Raymond James were worth $4,134,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RJF. Franklin Resources Inc. boosted its holdings in shares of Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider’s stock valued at $73,940,000 after purchasing an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Raymond James during the fourth quarter valued at approximately $511,000. Banque Cantonale Vaudoise purchased a new position in Raymond James during the 3rd quarter valued at approximately $3,561,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Raymond James by 1.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock worth $57,941,000 after acquiring an additional 7,028 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Raymond James by 7,238.7% during the 4th quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock worth $7,045,000 after acquiring an additional 44,735 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Raymond James

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares in the company, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on RJF. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Citigroup increased their target price on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Finally, Bank of America raised their price objective on Raymond James from $198.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $167.55.

Raymond James Price Performance

Shares of RJF stock opened at $143.66 on Friday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm has a market capitalization of $29.44 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.90 and a beta of 1.04. The stock’s 50-day simple moving average is $160.37 and its 200-day simple moving average is $147.45.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, equities analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is presently 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.