Logan Capital Management Inc. Cuts Position in Raymond James (NYSE:RJF)

Logan Capital Management Inc. lowered its position in Raymond James (NYSE:RJF - Free Report) by 32.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,909 shares of the financial services provider's stock after selling 16,590 shares during the period. Logan Capital Management Inc.'s holdings in Raymond James were worth $4,153,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RJF. Wolff Wiese Magana LLC increased its position in shares of 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 worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP bought a new stake in Raymond James during the 2nd quarter worth approximately $29,000. Future Financial Wealth Managment LLC bought a new stake in Raymond James during the 3rd 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. purchased a new position in shares of Raymond James during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Stock Performance

Shares of RJF traded up $0.12 during mid-day trading on Friday, hitting $160.49. The stock had a trading volume of 1,643,234 shares, compared to its average volume of 1,139,865. Raymond James has a 52 week low of $104.24 and a 52 week high of $171.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00. The business has a fifty day moving average price of $152.45 and a 200-day moving average price of $130.06. The firm has a market cap of $32.75 billion, a P/E ratio of 16.53, a PEG ratio of 0.94 and a beta of 1.00.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.13 EPS. On average, equities research analysts expect that Raymond James will post 10.85 EPS for the current year.

Raymond James Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.25%. Raymond James's dividend payout ratio (DPR) is 20.60%.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Bank of America raised their price target on shares of Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Morgan Stanley increased their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $169.00 target price (up from $152.00) on shares of Raymond James in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Raymond James presently has an average rating of "Hold" and a consensus target price of $142.45.

Insider Buying and Selling

In other news, insider Bella Loykhter Allaire sold 3,451 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company's stock, valued at approximately $13,319,326.02. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the sale, the chief executive officer now directly owns 283,110 shares in the company, valued at $47,364,303. This trade represents a 15.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,621 shares of company stock valued at $9,134,788. Company 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.