Central Bank & Trust Co. Sells 25,034 Shares of Raymond James (NYSE:RJF)

Central Bank & Trust Co. lessened its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 93.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,807 shares of the financial services provider's stock after selling 25,034 shares during the period. Central Bank & Trust Co.'s holdings in Raymond James were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC increased its holdings in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock worth $25,000 after purchasing an additional 198 shares during the period. Quarry LP acquired a new position in Raymond James in the 2nd quarter valued at approximately $29,000. Covestor Ltd lifted its position in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider's stock worth $31,000 after acquiring an additional 104 shares during the period. Smithfield Trust Co grew its holdings in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider's stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James during the third quarter valued at approximately $32,000. Institutional investors own 83.83% of the company's stock.

Raymond James Price Performance

Shares of Raymond James stock traded up $14.34 during trading on Wednesday, reaching $160.79. The company's stock had a trading volume of 2,220,585 shares, compared to its average volume of 1,146,820. Raymond James has a one year low of $98.72 and a one year high of $161.76. The stock has a 50-day moving average price of $128.52 and a two-hundred day moving average price of $122.49. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $33.11 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. Raymond James's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.13 earnings per share. As a group, sell-side analysts anticipate that Raymond James will post 10.73 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.12%. Raymond James's payout ratio is 18.54%.

Insider Activity

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares of the company's stock, valued at $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 9.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RJF. Jefferies Financial Group lifted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their target price on shares of Raymond James from $140.00 to $152.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on Raymond James from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Thursday, July 25th. Finally, Morgan Stanley increased their target price on Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $140.91.

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.