abrdn plc Has $7.81 Million Stock Position in Raymond James (NYSE:RJF)

abrdn plc lessened its holdings in Raymond James (NYSE:RJF - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,289 shares of the financial services provider's stock after selling 4,454 shares during the period. abrdn plc's holdings in Raymond James were worth $7,808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Coldstream Capital Management Inc. boosted its position in shares of Raymond James by 1.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider's stock worth $528,000 after buying an additional 64 shares during the period. CX Institutional boosted its position in Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider's stock valued at $361,000 after purchasing an additional 66 shares during the last quarter. Stablepoint Partners LLC boosted its position in Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider's stock valued at $2,276,000 after purchasing an additional 73 shares during the last quarter. Metis Global Partners LLC boosted its position in Raymond James by 1.4% during the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider's stock valued at $749,000 after purchasing an additional 82 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in Raymond James by 5.1% during the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Transactions at Raymond James

In related news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James 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 directly owns 32,688 shares of the company's stock, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bella Loykhter Allaire sold 3,451 shares of Raymond James stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now directly owns 80,421 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 64,621 shares of company stock worth $10,729,488. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RJF shares. The Goldman Sachs Group raised Raymond James from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $161.00 to $185.00 in a research report on Monday, January 6th. UBS Group raised Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. StockNews.com cut Raymond James from a "buy" rating to a "hold" rating in a research report on Monday. JMP Securities lifted their price objective on Raymond James from $175.00 to $190.00 and gave the company a "market outperform" rating in a research report on Thursday, January 30th. Finally, Morgan Stanley lifted their price objective on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research 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. According to data from MarketBeat.com, Raymond James has a consensus rating of "Hold" and a consensus price target of $166.09.

Raymond James Stock Down 1.1 %

NYSE RJF traded down $1.81 during trading on Wednesday, hitting $161.14. 1,287,719 shares of the company traded hands, compared to its average volume of 1,290,436. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The business has a fifty day simple moving average of $161.95 and a 200 day simple moving average of $142.92. 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 company has a market capitalization of $32.93 billion, a P/E ratio of 15.72, a PEG ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.99% and a net margin of 14.06%. As a group, sell-side analysts predict that Raymond James will post 11.12 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. 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 1.24%. Raymond James's payout ratio is presently 19.51%.

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.