Congress Asset Management Co. MA Has $104.35 Million Holdings in Raymond James (NYSE:RJF)

Congress Asset Management Co. MA cut its stake in shares of Raymond James (NYSE:RJF) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 935,872 shares of the financial services provider’s stock after selling 40,057 shares during the period. Congress Asset Management Co. MA’s holdings in Raymond James were worth $104,350,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RJF. Wellington Management Group LLP grew its stake in Raymond James by 2.2% in the third quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock valued at $1,161,981,000 after acquiring an additional 246,349 shares during the period. Earnest Partners LLC grew its stake in Raymond James by 4.8% in the third quarter. Earnest Partners LLC now owns 2,165,025 shares of the financial services provider’s stock valued at $217,433,000 after acquiring an additional 98,664 shares during the period. AGF Management Ltd. grew its stake in Raymond James by 5.9% in the fourth quarter. AGF Management Ltd. now owns 2,147,825 shares of the financial services provider’s stock valued at $239,482,000 after acquiring an additional 120,427 shares during the period. Norges Bank acquired a new position in Raymond James in the fourth quarter valued at about $238,830,000. Finally, Northern Trust Corp grew its stake in Raymond James by 2.5% in the third quarter. Northern Trust Corp now owns 2,082,598 shares of the financial services provider’s stock valued at $209,155,000 after acquiring an additional 51,239 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total transaction of $505,095.74. Following the transaction, the chief executive officer now owns 51,009 shares of the company’s stock, valued at $6,172,599.09. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James E. Bunn sold 11,095 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares in the company, valued at approximately $5,845,817.88. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James Stock Down 1.3 %

RJF traded down $1.56 on Friday, hitting $115.67. 790,858 shares of the company were exchanged, compared to its average volume of 781,521. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19. The company has a market cap of $23.98 billion, a PE ratio of 13.99, a PEG ratio of 0.80 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. The stock’s fifty day moving average is $123.42 and its 200-day moving average is $118.10.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $2.03 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Monday, July 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Analysts Set New Price Targets

A number of analysts have recently commented on RJF shares. Morgan Stanley boosted their price target on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. TD Cowen cut their price target on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. JMP Securities restated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Bank of America cut their price target on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods cut their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $126.22.

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.