Palmer Knight Co Sells 147 Shares of Raymond James (NYSE:RJF)

Palmer Knight Co cut its stake in Raymond James (NYSE:RJF) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,508 shares of the financial services provider’s stock after selling 147 shares during the period. Raymond James makes up about 4.2% of Palmer Knight Co’s holdings, making the stock its 5th largest holding. Palmer Knight Co’s holdings in Raymond James were worth $6,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Steph & Co. lifted its stake in shares of Raymond James by 9.3% in the 4th quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 91 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Raymond James by 12.4% during the fourth quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after buying an additional 96 shares during the period. Addison Advisors LLC raised its holdings in shares of Raymond James by 32.9% in the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock valued at $42,000 after buying an additional 103 shares during the period. SVB Wealth LLC boosted its stake in shares of Raymond James by 5.6% in the third quarter. SVB Wealth LLC now owns 2,046 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 108 shares during the period. Finally, Great Valley Advisor Group Inc. lifted its holdings in Raymond James by 3.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,855 shares of the financial services provider’s stock worth $387,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James

In other news, Director Art A. Garcia purchased 879 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the purchase, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.74% of the stock is currently owned by company insiders.

Raymond James Price Performance

Shares of NYSE RJF traded up $1.01 during trading on Monday, hitting $122.87. 290,265 shares of the company were exchanged, compared to its average volume of 1,068,651. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. Raymond James has a 1 year low of $82.00 and a 1 year high of $131.19. The firm’s fifty day moving average price is $123.10 and its 200 day moving average price is $112.67. The company has a market cap of $25.68 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.85 and a beta of 1.05.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the firm earned $2.03 EPS. Raymond James’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Raymond James will post 9.37 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.45 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 1.46%. Raymond James’s payout ratio is 21.77%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. JPMorgan Chase & Co. upgraded Raymond James from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $135.00 in a research note on Wednesday, January 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $117.00 target price (up from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Citigroup boosted their price objective on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, UBS Group lowered their price objective on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.22.

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.