Raymond James (NYSE:RJF) Stake Trimmed by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its holdings in Raymond James (NYSE:RJF - Free Report) by 51.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,997 shares of the financial services provider's stock after selling 17,062 shares during the period. Edgestream Partners L.P.'s holdings in Raymond James were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Verition Fund Management LLC acquired a new stake in shares of Raymond James during the 3rd quarter worth about $519,000. Public Sector Pension Investment Board raised its holdings in Raymond James by 2.5% in the third quarter. Public Sector Pension Investment Board now owns 32,498 shares of the financial services provider's stock valued at $3,980,000 after buying an additional 800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Raymond James by 3.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,902 shares of the financial services provider's stock valued at $7,703,000 after buying an additional 2,056 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Raymond James by 4.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 115,935 shares of the financial services provider's stock valued at $14,197,000 after buying an additional 4,473 shares during the period. Finally, Bridgewater Associates LP raised its stake in shares of Raymond James by 579.5% during the third quarter. Bridgewater Associates LP now owns 18,857 shares of the financial services provider's stock valued at $2,309,000 after purchasing an additional 16,082 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Stock Performance

Shares of RJF traded down $1.47 during midday trading on Tuesday, hitting $165.48. 1,246,031 shares of the stock traded hands, compared to its average volume of 1,142,133. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The firm has a market capitalization of $33.76 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 0.97 and a beta of 1.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. The business's 50 day moving average price is $145.46 and its two-hundred day moving average price is $127.69.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the company posted $2.13 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts predict that Raymond James will post 10.83 EPS for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.50 per share. This is a boost from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. Raymond James's payout ratio is currently 18.54%.

Insider Activity at Raymond James

In related news, insider Bella Loykhter Allaire sold 1,170 shares of Raymond James stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the sale, the insider now directly owns 80,421 shares in the company, valued at $13,625,730.03. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul C. Reilly sold 50,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 283,110 shares in the company, valued at approximately $47,364,303. This trade represents a 15.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,621 shares of company stock worth $9,134,788 over the last ninety days. 9.74% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RJF. Bank of America lifted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. JMP Securities lifted their price objective on shares of Raymond James from $146.00 to $150.00 and gave the company a "market outperform" rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the company a "neutral" rating in a research note on Thursday, October 24th. Morgan Stanley lifted 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 raised their price target on shares of Raymond James from $140.00 to $152.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $140.91.

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.