Dynamic Advisor Solutions LLC reduced its stake in Raymond James (NYSE:RJF – Free Report) by 27.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,828 shares of the financial services provider’s stock after selling 688 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Raymond James were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in 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 buying an additional 9,217 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Raymond James during the 3rd quarter worth approximately $3,561,000. Sumitomo Mitsui Trust Group Inc. lifted 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 purchasing an additional 7,028 shares in the last quarter. UMB Bank n.a. boosted its holdings in Raymond James by 7,238.7% in the 4th quarter. UMB Bank n.a. now owns 45,353 shares of the financial services provider’s stock valued at $7,045,000 after purchasing an additional 44,735 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Raymond James by 109.3% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after purchasing an additional 58,200 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Tashtego S. Elwyn sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total transaction of $571,554.62. Following the completion of the transaction, the insider now owns 80,421 shares of the company’s stock, valued at $13,319,326.02. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock valued at $10,729,488 over the last ninety days. 0.54% of the stock is owned by insiders.
Raymond James Price Performance
Raymond James Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.50 per share. This is a positive change 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 1.17%. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio is currently 20.60%.
Wall Street Analyst Weigh In
Several research firms recently commented on RJF. Jefferies Financial Group boosted their target price on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Bank of America increased 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. Citigroup lifted their price target on Raymond James from $145.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Morgan Stanley raised their price objective on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $156.09.
Check Out Our Latest Analysis on Raymond James
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.
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