Apollon Wealth Management LLC Decreases Position in Raymond James (NYSE:RJF)

Apollon Wealth Management LLC cut its position in Raymond James (NYSE:RJF - Free Report) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,052 shares of the financial services provider's stock after selling 2,729 shares during the quarter. Apollon Wealth Management LLC's holdings in Raymond James were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of RJF. CWM LLC lifted its stake in Raymond James by 2.8% in the 3rd quarter. CWM LLC now owns 11,853 shares of the financial services provider's stock worth $1,452,000 after purchasing an additional 325 shares in the last quarter. Wedmont Private Capital raised its position in shares of Raymond James by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider's stock valued at $222,000 after buying an additional 86 shares in the last quarter. UMB Bank n.a. raised its position in shares of Raymond James by 50.7% during the 3rd quarter. UMB Bank n.a. now owns 618 shares of the financial services provider's stock valued at $76,000 after buying an additional 208 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Raymond James by 474.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,332 shares of the financial services provider's stock valued at $163,000 after buying an additional 1,100 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Raymond James during the 3rd quarter valued at $315,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Tashtego S. Elwyn sold 10,000 shares of Raymond James stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares of the company's stock, valued at approximately $5,212,755.36. The trade was a 23.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 64,621 shares of company stock valued at $10,729,488. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Raymond James from $145.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. UBS Group upgraded shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Bank of America raised their price objective on shares of Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. TD Cowen raised their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Finally, JMP Securities increased their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a "market outperform" rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $166.09.

Raymond James Trading Down 0.5 %

Raymond James stock traded down $0.76 during trading hours on Thursday, reaching $160.34. The stock had a trading volume of 1,560,433 shares, compared to its average volume of 1,299,746. The stock has a market cap of $32.77 billion, a PE ratio of 15.64, a PEG ratio of 0.98 and a beta of 1.03. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The company has a fifty day simple moving average of $161.75 and a 200-day simple moving average of $143.16.

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

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. This is a positive change from Raymond James's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. Raymond James's payout ratio is presently 19.51%.

Raymond James Company 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.