Raymond James (NYSE:RJF) Stake Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Raymond James (NYSE:RJF - Free Report) by 24.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,804 shares of the financial services provider's stock after selling 30,294 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Raymond James were worth $14,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Coldstream Capital Management Inc. increased its position in Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider's stock worth $528,000 after purchasing an additional 64 shares during the period. CX Institutional lifted its position in shares of Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider's stock valued at $361,000 after acquiring an additional 66 shares during the period. Stablepoint Partners LLC boosted its position in shares of Raymond James by 0.5% in the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider's stock worth $2,276,000 after buying an additional 73 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Raymond James by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider's stock worth $749,000 after purchasing an additional 82 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in shares of Raymond James by 3.9% in the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Stock Down 2.4 %

Raymond James stock traded down $3.73 during trading on Friday, reaching $151.34. 1,668,672 shares of the company's stock were exchanged, compared to its average volume of 1,355,329. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The firm has a market cap of $31.01 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.93 and a beta of 1.03. 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 company's 50-day moving average is $161.30 and its two-hundred day moving average is $145.05.

Raymond James (NYSE:RJF - Get Free Report) last issued 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 return on equity of 19.71% and a net margin of 14.06%. On average, analysts predict that Raymond James will post 11.12 earnings per share for the current year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Raymond James's dividend payout ratio is currently 19.51%.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the 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 directly owns 32,688 shares in the company, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total transaction of $198,233.10. Following the completion of the sale, the insider now owns 80,421 shares of the company's stock, valued at approximately $13,625,730.03. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,621 shares of company stock valued at $10,729,488. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RJF shares. Morgan Stanley boosted their price target on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. TD Cowen raised their price target on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. raised their target price on shares of Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Finally, Citigroup upped their price target on shares of Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Raymond James currently has a consensus rating of "Hold" and an average price target of $166.09.

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.