Canandaigua National Bank & Trust Co. Sells 137 Shares of Raymond James (NYSE:RJF)

Canandaigua National Bank & Trust Co. cut its holdings in shares of Raymond James (NYSE:RJF) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,856 shares of the financial services provider’s stock after selling 137 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Raymond James were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Raymond James by 1.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after buying an additional 7,028 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Raymond James during the third quarter worth $3,561,000. XTX Topco Ltd raised its holdings in shares of Raymond James by 390.7% during the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after acquiring an additional 6,649 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Raymond James by 109.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock valued at $13,778,000 after acquiring an additional 58,200 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

NYSE RJF opened at $159.39 on Tuesday. The firm has a market capitalization of $32.52 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average price is $159.21 and its two-hundred day moving average price is $134.29. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the firm earned $2.13 EPS. Raymond James’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, research analysts anticipate that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $169.00 target price (up previously from $152.00) on shares of Raymond James in a report on Thursday, December 12th. TD Cowen lifted their target price on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Bank of America boosted their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $161.00 to $185.00 in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $149.91.

Insider Buying and Selling

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now owns 283,110 shares of the company’s stock, valued at $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,621 shares of company stock valued at $10,729,488. 9.74% of the stock is owned by insiders.

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.