Raymond James (NYSE:RJF) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 623,949 shares of the financial services provider's stock after selling 2,917 shares during the quarter. Principal Financial Group Inc. owned about 0.31% of Raymond James worth $96,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RJF. Gladius Capital Management LP purchased a new position in Raymond James in the 3rd quarter worth approximately $34,000. Y.D. More Investments Ltd increased its holdings in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Raymond James during the third quarter worth approximately $37,000. Quarry LP boosted its stake in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider's stock worth $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Raymond James in the 4th quarter valued at $68,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Raymond James

In other news, insider Bella Loykhter Allaire sold 1,170 shares of the company'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 completion of the transaction, the insider now owns 80,421 shares in the company, valued at approximately $13,625,730.03. This represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Paul C. Reilly sold 50,000 shares of Raymond James stock in a transaction 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 owns 283,110 shares in the company, valued at $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,621 shares of company stock valued at $10,729,488. Corporate insiders own 0.54% of the company's stock.

Raymond James Stock Down 2.4 %

NYSE:RJF traded down $3.73 during mid-day trading on Friday, hitting $151.34. The stock had a trading volume of 1,668,672 shares, compared to its average volume of 1,355,329. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The stock has a 50-day simple moving average of $161.49 and a two-hundred day simple moving average of $144.74. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $31.01 billion, a PE ratio of 14.77, a PEG ratio of 0.93 and a beta of 1.03.

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

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. Raymond James's payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Morgan Stanley lifted their price target on shares of Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. UBS Group upgraded Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. StockNews.com downgraded Raymond James from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Citigroup increased their price target on Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.