Calton & Associates Inc. Cuts Stock Holdings in Raymond James (NYSE:RJF)

Calton & Associates Inc. lowered its stake in shares of Raymond James (NYSE:RJF) by 3.7% during the first quarter, Holdings Channel reports. The fund owned 2,615 shares of the financial services provider’s stock after selling 100 shares during the period. Calton & Associates Inc.’s holdings in Raymond James were worth $336,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the first quarter worth $33,000. Turtle Creek Wealth Advisors LLC acquired a new position in Raymond James in the fourth quarter valued at $30,000. OLD Point Trust & Financial Services N A acquired a new position in Raymond James in the fourth quarter valued at $33,000. CVA Family Office LLC acquired a new position in Raymond James in the fourth quarter valued at $50,000. Finally, Addison Advisors LLC boosted its stake in Raymond James by 32.7% in the fourth quarter. Addison Advisors LLC now owns 552 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RJF. Citigroup upped their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. TD Cowen reduced their target price on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Bank of America reduced their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $126.22.

Insider Buying and Selling at Raymond James

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the completion of the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a filing with the SEC, which is available at this link. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at $5,845,817.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Raymond James Trading Up 1.7 %

NYSE RJF opened at $123.60 on Friday. The stock has a market capitalization of $25.62 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.83 and a beta of 1.01. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The firm has a 50-day moving average price of $122.67 and a 200 day moving average price of $119.14. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.03 earnings per share. Equities research analysts expect that Raymond James will post 9.55 EPS for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.45 dividend. The ex-dividend date is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Raymond James 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.