Raymond James (NYSE:RJF) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in shares of Raymond James (NYSE:RJF - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,013 shares of the financial services provider's stock after selling 3,368 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Raymond James were worth $14,914,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in shares of Raymond James during the 3rd quarter worth approximately $315,000. Vontobel Holding Ltd. raised its stake in shares of Raymond James by 5.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,440 shares of the financial services provider's stock worth $299,000 after buying an additional 137 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Raymond James by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,797 shares of the financial services provider's stock worth $2,547,000 after buying an additional 332 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Raymond James by 20.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,971 shares of the financial services provider's stock worth $609,000 after buying an additional 855 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new position in shares of Raymond James during the 3rd quarter worth approximately $542,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Trading Down 2.9 %

Shares of Raymond James stock traded down $4.55 during trading hours on Thursday, reaching $155.03. 2,085,618 shares of the company's stock were exchanged, compared to its average volume of 1,345,834. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The firm has a market capitalization of $31.77 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 0.94 and a beta of 1.03. The company has a fifty day moving average of $161.59 and a 200-day moving average of $144.66. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Sell-side analysts forecast that Raymond James will post 11.12 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.50 dividend. This is a positive change from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, January 2nd. Raymond James's dividend payout ratio (DPR) is 19.51%.

Insider Buying and Selling

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the transaction, the insider now directly owns 80,421 shares of the company's stock, valued at $13,625,730.03. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,621 shares of company stock valued at $10,729,488. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RJF has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. UBS Group upgraded Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. TD Cowen upped their price target on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. The Goldman Sachs Group upgraded Raymond James from a "neutral" rating to a "buy" rating and upped their price target for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Finally, JMP Securities upped their price target on Raymond James from $175.00 to $190.00 and gave the stock a "market outperform" rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.