Western Wealth Management LLC Sells 158 Shares of Raymond James (NYSE:RJF)

by · The Cerbat Gem

Western Wealth Management LLC lowered its position in Raymond James (NYSE:RJF – Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,479 shares of the financial services provider’s stock after selling 158 shares during the period. Western Wealth Management LLC’s holdings in Raymond James were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in Raymond James by 33.5% during the third quarter. Barclays PLC now owns 847,108 shares of the financial services provider’s stock valued at $103,738,000 after buying an additional 212,697 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Raymond James by 12.0% during 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. HB Wealth Management LLC purchased a new stake in Raymond James in the fourth quarter valued at $223,000. Ballentine Partners LLC boosted its holdings in Raymond James by 5.9% in the fourth quarter. Ballentine Partners LLC now owns 2,284 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 128 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Raymond James by 19.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,524 shares of the financial services provider’s stock worth $2,878,000 after acquiring an additional 3,028 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Insider Activity at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider now directly owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Raymond James Stock Performance

NYSE:RJF opened at $146.40 on Friday. The company has a fifty day simple moving average of $139.95 and a two-hundred day simple moving average of $152.54. The company has a market cap of $29.54 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32.

Raymond James (NYSE:RJF – Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Raymond James’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $2.31 earnings per share. As a group, equities analysts anticipate that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. Raymond James’s dividend payout ratio (DPR) is currently 19.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RJF. Bank of America lowered shares of Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 price target on the stock. in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their price target on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price target on shares of Raymond James from $149.00 to $143.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley raised their price target on shares of Raymond James from $149.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $153.82.

Check Out Our Latest Stock Report on RJF

About Raymond James

(Free Report)

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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