CWA Asset Management Group LLC Sells 5,758 Shares of Raymond James (NYSE:RJF)

CWA Asset Management Group LLC reduced its position in shares of Raymond James (NYSE:RJF - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,311 shares of the financial services provider's stock after selling 5,758 shares during the quarter. CWA Asset Management Group LLC's holdings in Raymond James were worth $10,766,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RJF. Wolff Wiese Magana LLC raised its position in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider's stock valued at $25,000 after buying an additional 198 shares during the period. Quarry LP acquired a new position in shares of Raymond James in the 2nd quarter valued at about $29,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Raymond James in the third quarter worth approximately $32,000. Gladius Capital Management LP purchased a new stake in shares of Raymond James in the third quarter worth approximately $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Raymond James during the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.83% of the company's stock.

Raymond James Stock Performance

RJF stock traded up $1.67 during mid-day trading on Monday, reaching $159.39. 1,075,546 shares of the stock traded hands, compared to its average volume of 841,682. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $32.52 billion, a PE ratio of 16.42, a P/E/G ratio of 0.91 and a beta of 1.02. The business has a 50-day moving average of $159.21 and a two-hundred day moving average of $134.29.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the business posted $2.13 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.25%. This is a positive change from Raymond James's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, January 2nd. Raymond James's dividend payout ratio (DPR) is currently 20.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $143.00 to $170.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. Wells Fargo & Company reiterated an "equal weight" rating and set a $169.00 price objective (up from $152.00) on shares of Raymond James in a report on Thursday, December 12th. TD Cowen boosted their target price on Raymond James from $128.00 to $150.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Bank of America raised their price target on Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised Raymond James from a "neutral" rating to a "buy" rating and boosted their price target for the company from $161.00 to $185.00 in a research note on Monday. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Raymond James presently has a consensus rating of "Hold" and a consensus price target of $149.91.

Insiders Place Their Bets

In other Raymond James news, insider Bella Loykhter Allaire sold 1,170 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $169.43, for a total value of $198,233.10. Following the sale, the insider now owns 80,421 shares of the company's stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,594,700.00. Following the transaction, the insider now directly owns 32,688 shares of the company's stock, valued at $5,212,755.36. The trade was a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,621 shares of company stock worth $10,729,488 in the last ninety days. Insiders own 9.74% of the company's stock.

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.