Securian Asset Management Inc Lowers Holdings in Raymond James (RJF)

Securian Asset Management Inc lowered its holdings in Raymond James (NYSE:RJF) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 12,984 shares of the financial services provider’s stock after selling 342 shares during the period. Securian Asset Management Inc’s holdings in Raymond James were worth $966,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Raymond James during the fourth quarter worth $26,000. Private Capital Group LLC raised its holdings in shares of Raymond James by 103.4% during the fourth quarter. Private Capital Group LLC now owns 708 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 360 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Raymond James by 40.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,050 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 300 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Raymond James by 86.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,405 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 651 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in shares of Raymond James during the third quarter worth $204,000. Institutional investors and hedge funds own 73.29% of the company’s stock.

Shares of NYSE:RJF opened at $82.01 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.10 and a current ratio of 1.13. Raymond James has a 52-week low of $69.11 and a 52-week high of $102.17. The stock has a market capitalization of $11.46 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.66 and a beta of 1.55.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06. Raymond James had a net margin of 12.79% and a return on equity of 15.84%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Raymond James will post 7.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 17th. Investors of record on Thursday, January 3rd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Wednesday, January 2nd. This is a boost from Raymond James’s previous quarterly dividend of $0.30. Raymond James’s dividend payout ratio (DPR) is presently 21.02%.

In related news, SVP George Catanese sold 6,611 shares of the stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $78.71, for a total value of $520,351.81. Following the completion of the sale, the senior vice president now owns 6,180 shares in the company, valued at $486,427.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.74% of the stock is currently owned by company insiders.

Several equities analysts have commented on the stock. ValuEngine raised shares of Raymond James from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Zacks Investment Research raised shares of Raymond James from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Wells Fargo & Co reissued a “buy” rating on shares of Raymond James in a research report on Thursday, January 24th. Finally, Credit Suisse Group lowered their target price on shares of Raymond James from $100.00 to $93.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Raymond James currently has a consensus rating of “Hold” and an average price target of $95.50.

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Raymond James Company 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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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