Vanguard Group Inc. Lowers Stake in Raymond James (NYSE:RJF)

Vanguard Group Inc. lessened its position in Raymond James (NYSE:RJF - Free Report) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,131,131 shares of the financial services provider's stock after selling 165,904 shares during the period. Vanguard Group Inc. owned 10.59% of Raymond James worth $2,842,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ontario Teachers Pension Plan Board increased its stake in shares of Raymond James by 4.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 5,635 shares of the financial services provider's stock valued at $628,000 after buying an additional 240 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Raymond James by 86.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,421 shares of the financial services provider's stock valued at $493,000 after buying an additional 2,047 shares during the period. Hsbc Holdings PLC increased its stake in shares of Raymond James by 25.4% in the fourth quarter. Hsbc Holdings PLC now owns 444,597 shares of the financial services provider's stock valued at $49,603,000 after buying an additional 89,981 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Raymond James by 36.9% in the first quarter. Concurrent Investment Advisors LLC now owns 8,640 shares of the financial services provider's stock valued at $1,109,000 after buying an additional 2,328 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Raymond James by 44.5% in the fourth quarter. BNP Paribas Financial Markets now owns 110,751 shares of the financial services provider's stock valued at $12,349,000 after buying an additional 34,101 shares during the period. Institutional investors and hedge funds own 83.83% of the company's stock.

Insider Transactions at Raymond James

In other news, insider James E. Bunn sold 11,095 shares of the business's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company's stock, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Steven M. Raney sold 4,174 shares of the business's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares of the company's stock, valued at $6,172,599.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James E. Bunn sold 11,095 shares of the company's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares of the company's stock, valued at $5,845,817.88. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Raymond James Stock Down 2.2 %

RJF traded down $2.48 during midday trading on Friday, hitting $108.62. The company had a trading volume of 3,376,543 shares, compared to its average volume of 1,420,051. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $22.51 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.68 and a beta of 1.02. The stock's 50 day moving average price is $120.76 and its 200 day moving average price is $119.96.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $2.03 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts anticipate that Raymond James will post 9.55 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Monday, July 1st. Raymond James's payout ratio is presently 21.77%.

Wall Street Analyst Weigh In

RJF has been the subject of several recent research reports. Morgan Stanley increased their price target on Raymond James from $113.00 to $123.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods cut their target price on Raymond James from $132.00 to $131.00 and set a "market perform" rating on the stock in a research report on Thursday, April 25th. Citigroup raised their target price on Raymond James from $112.00 to $132.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Wolfe Research reissued a "peer perform" rating on shares of Raymond James in a research note on Monday, July 8th. Finally, Bank of America cut their price target on Raymond James from $145.00 to $141.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $129.89.

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.