Raymond James (NYSE:RJF) Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. lowered its position in shares of Raymond James (NYSE:RJF - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,376 shares of the financial services provider's stock after selling 2,403 shares during the period. Raymond James accounts for approximately 1.8% of Avity Investment Management Inc.'s investment portfolio, making the stock its 28th biggest holding. Avity Investment Management Inc. owned approximately 0.07% of Raymond James worth $23,203,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its stake in Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider's stock worth $1,483,542,000 after acquiring an additional 2,898,242 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock worth $556,533,000 after acquiring an additional 488,245 shares in the last quarter. Ceredex Value Advisors LLC increased its position in Raymond James by 191.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 722,393 shares of the financial services provider's stock valued at $88,464,000 after buying an additional 474,443 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Raymond James during the third quarter worth approximately $34,105,000. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of Raymond James in the third quarter valued at $28,985,000. 83.83% of the stock is owned by institutional investors.

Raymond James Stock Performance

NYSE:RJF traded up $4.83 during mid-day trading on Wednesday, hitting $161.55. 1,278,169 shares of the company traded hands, compared to its average volume of 1,027,608. The stock's fifty day moving average price is $160.42 and its 200-day moving average price is $135.78. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Raymond James has a one year low of $104.24 and a one year high of $171.38. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The business's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 earnings per share. Research analysts anticipate that Raymond James will post 10.85 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost 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 currently 20.60%.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the firm's 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. In the last three months, insiders sold 64,621 shares of company stock valued at $10,729,488. Insiders own 9.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RJF shares. Wells Fargo & Company dropped their price target on shares of Raymond James from $169.00 to $168.00 and set an "equal weight" rating on the stock in a research report on Tuesday. JMP Securities upped their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a "market outperform" rating in a research note on Thursday, October 24th. Jefferies Financial Group lifted their target price on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a report on Friday, October 4th. The Goldman Sachs Group upgraded Raymond James from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $161.00 to $185.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $166.00 target price (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Nine 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 stock presently has an average rating of "Hold" and a consensus target price of $156.09.

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.