Bank of Montreal Can Sells 20,839 Shares of Raymond James (NYSE:RJF)

Bank of Montreal Can lowered its holdings in Raymond James (NYSE:RJF - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254,350 shares of the financial services provider's stock after selling 20,839 shares during the quarter. Bank of Montreal Can owned 0.12% of Raymond James worth $39,508,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its holdings in 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 valued at $528,000 after purchasing an additional 64 shares during the last quarter. CX Institutional boosted its holdings in shares of Raymond James by 2.9% in the 4th 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. Crestwood Advisors Group LLC lifted its stake in shares of Raymond James by 3.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 67 shares in the last quarter. Stablepoint Partners LLC raised its holdings in Raymond James by 0.5% in the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider's stock valued at $2,276,000 after buying an additional 73 shares during the period. Finally, Keybank National Association OH grew its stake in Raymond James by 0.7% during the fourth quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider's stock worth $1,747,000 after buying an additional 76 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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Raymond James Stock Down 1.1 %

Shares of RJF traded down $1.53 during trading hours on Wednesday, hitting $134.68. 209,541 shares of the company were exchanged, compared to its average volume of 1,537,984. 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 0.35, a quick ratio of 1.01 and a current ratio of 1.03. The firm's 50 day moving average is $144.81 and its 200-day moving average is $151.31. The company has a market cap of $27.60 billion, a PE ratio of 13.14, a PEG ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, beating 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, equities research analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. Raymond James's dividend payout ratio is currently 19.51%.

Analyst Ratings Changes

Several research firms have commented on RJF. Morgan Stanley raised their price objective on Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Citigroup decreased their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered their target price on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. JMP Securities reduced their price target on Raymond James from $190.00 to $175.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their target price on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $160.27.

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.