Goldman Sachs Group Inc. Sells 28,472 Shares of Raymond James (NYSE:RJF)

Goldman Sachs Group Inc. reduced its holdings in Raymond James (NYSE:RJF) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,273,930 shares of the financial services provider’s stock after selling 28,472 shares during the quarter. Goldman Sachs Group Inc. owned about 0.61% of Raymond James worth $142,043,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RJF. V Square Quantitative Management LLC boosted its position in shares of Raymond James by 24.0% during the 4th quarter. V Square Quantitative Management LLC now owns 4,541 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 879 shares in the last quarter. Novak & Powell Financial Services Inc. bought a new position in Raymond James in the fourth quarter worth approximately $343,000. Oarsman Capital Inc. grew its stake in Raymond James by 0.9% in the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after acquiring an additional 99 shares during the period. Parkwood LLC bought a new stake in shares of Raymond James during the fourth quarter valued at approximately $5,466,000. Finally, Bragg Financial Advisors Inc raised its position in shares of Raymond James by 3.4% during the fourth quarter. Bragg Financial Advisors Inc now owns 79,041 shares of the financial services provider’s stock worth $8,813,000 after purchasing an additional 2,635 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Raymond James news, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the transaction, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction on Friday, May 3rd. The stock was 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 $5,845,817.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Cowen decreased their price target on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Citigroup increased their price objective on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Morgan Stanley lifted their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Bank of America dropped their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $126.22.

Raymond James Stock Performance

Shares of NYSE:RJF traded down $1.56 during midday trading on Friday, reaching $115.67. The company had a trading volume of 790,858 shares, compared to its average volume of 781,521. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company’s 50 day moving average price is $123.68 and its 200 day moving average price is $118.03. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The stock has a market cap of $23.98 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.80 and a beta of 1.01.

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

Raymond James Announces Dividend

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

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.