Victory Capital Management Inc. Sells 3,271 Shares of Raymond James (NYSE:RJF)

Victory Capital Management Inc. cut its holdings in Raymond James (NYSE:RJF - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,551 shares of the financial services provider's stock after selling 3,271 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Raymond James worth $18,259,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Y.D. More Investments Ltd grew its holdings in 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 worth $36,000 after purchasing an additional 127 shares during the period. Plato Investment Management Ltd grew its stake in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after buying an additional 217 shares during the last quarter. Gladius Capital Management LP bought a new position in Raymond James during the 3rd quarter valued at approximately $34,000. Peterson Financial Group Inc. purchased a new position in Raymond James during the third quarter valued at $37,000. Finally, Quarry LP grew its stake in shares of Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider's stock worth $51,000 after acquiring an additional 187 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Price Performance

Shares of NYSE:RJF opened at $139.81 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $28.65 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The firm's 50 day moving average price is $159.13 and its 200-day moving average price is $148.37. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32.

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Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. Equities research analysts expect that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James's dividend payout ratio is presently 19.51%.

Insiders Place Their Bets

In other Raymond James news, insider Tashtego S. Elwyn sold 10,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now directly owns 32,688 shares in the company, valued at $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on RJF shares. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Bank of America raised their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Citigroup boosted their price objective on shares of Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. UBS Group upgraded Raymond James from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Nine investment 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $167.55.

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.

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