Mount Yale Investment Advisors LLC Has $2.90 Million Stake in Raymond James (NYSE:RJF)

Mount Yale Investment Advisors LLC cut its stake in shares of Raymond James (NYSE:RJF) by 33.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,687 shares of the financial services provider’s stock after selling 9,415 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Raymond James were worth $2,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its holdings in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP bought a new stake in shares of Raymond James during the second quarter worth about $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the third quarter valued at approximately $32,000. Gladius Capital Management LP bought a new position in Raymond James in the 3rd quarter valued at approximately $34,000. Finally, Peterson Financial Group Inc. acquired a new stake in Raymond James during the 3rd quarter worth approximately $37,000. Institutional investors own 83.83% of the company’s stock.

Insiders Place Their Bets

In related news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the completion of the sale, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This trade represents a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $165.62, for a total value of $571,554.62. Following the completion of the sale, the insider now owns 80,421 shares of the company’s stock, valued at $13,319,326.02. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,621 shares of company stock worth $10,729,488. Corporate insiders own 0.54% of the company’s stock.

Raymond James Price Performance

RJF stock opened at $172.67 on Monday. The company has a market cap of $35.29 billion, a P/E ratio of 17.78, a PEG ratio of 1.04 and a beta of 1.02. The firm has a 50-day moving average of $161.67 and a 200 day moving average of $138.47. Raymond James has a 1 year low of $104.24 and a 1 year high of $173.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.00.

Raymond James Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.16%. Raymond James’s payout ratio is 20.60%.

Analyst Upgrades and Downgrades

RJF has been the topic of several analyst reports. Bank of America boosted their price objective on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. restated a “neutral” rating and set a $166.00 price objective (up from $151.00) on shares of Raymond James in a research report on Tuesday, January 7th. Wells Fargo & Company decreased their target price on shares of Raymond James from $169.00 to $168.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James from $143.00 to $170.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, JMP Securities increased their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $156.09.

About Raymond James

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.