Sumitomo Mitsui Trust Group Inc. Has $72.17 Million Holdings in Raymond James (NYSE:RJF)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Raymond James (NYSE:RJF - Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 464,652 shares of the financial services provider's stock after selling 8,488 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Raymond James worth $72,174,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RJF. Wellington Management Group LLP boosted its position in shares of Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider's stock worth $1,483,542,000 after buying an additional 2,898,242 shares during the period. State Street Corp grew its stake in Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider's stock worth $976,587,000 after purchasing an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Raymond James by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock valued at $556,533,000 after buying an additional 488,245 shares during the last quarter. Geode Capital Management LLC increased its holdings in Raymond James by 0.3% in the third quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider's stock valued at $531,013,000 after buying an additional 12,869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Raymond James by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,064,349 shares of the financial services provider's stock worth $130,340,000 after buying an additional 7,121 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Raymond James news, CEO Paul C. Reilly sold 50,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $167.30, for a total value 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 $47,364,303. This represents a 15.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now owns 32,688 shares of the company's stock, valued at approximately $5,212,755.36. This represents 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 three months. 0.54% of the stock is currently owned by insiders.

Raymond James Price Performance

Shares of RJF traded down $0.76 during midday trading on Thursday, reaching $160.34. The stock had a trading volume of 1,560,433 shares, compared to its average volume of 1,299,746. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. 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 firm's 50 day moving average price is $161.75 and its 200-day moving average price is $143.16. The company has a market capitalization of $32.77 billion, a P/E ratio of 15.64, a P/E/G ratio of 0.98 and a beta of 1.03.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.99%. On average, analysts forecast that Raymond James will post 11.12 earnings per share for the current fiscal year.

Raymond James Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, January 2nd. This is a positive change from Raymond James's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.25%. Raymond James's dividend payout ratio (DPR) is currently 19.51%.

Analyst Ratings Changes

RJF has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Morgan Stanley increased their price objective on shares of Raymond James from $132.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Citigroup boosted their target price on shares of Raymond James from $145.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. JMP Securities lifted their price target on Raymond James from $175.00 to $190.00 and gave the company a "market outperform" rating in a report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price objective on Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 30th. 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 has a consensus rating of "Hold" and an average price target of $166.09.

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.