Mackay Shields LLC Sells 410 Shares of Raymond James (NYSE:RJF)

Mackay Shields LLC lowered its stake in shares of Raymond James (NYSE:RJFGet Rating) by 1.5% in the fourth quarter, Holdings Channel reports. The firm owned 27,806 shares of the financial services provider’s stock after selling 410 shares during the period. Mackay Shields LLC’s holdings in Raymond James were worth $2,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James during the fourth quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Raymond James by 49.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 316 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 105 shares in the last quarter. CWM LLC bought a new stake in Raymond James in the fourth quarter valued at $34,000. Front Row Advisors LLC grew its position in Raymond James by 49.8% in the third quarter. Front Row Advisors LLC now owns 373 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 124 shares during the period. Finally, CX Institutional grew its position in Raymond James by 51.4% in the third quarter. CX Institutional now owns 389 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 132 shares during the period. 74.23% of the stock is owned by hedge funds and other institutional investors.

In other Raymond James news, EVP Bella Loykhter Allaire sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $114.78, for a total value of $1,721,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey A. Dowdle sold 18,972 shares of the firm’s stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $112.73, for a total transaction of $2,138,713.56. The disclosure for this sale can be found here. 10.25% of the stock is owned by corporate insiders.

Shares of RJF stock opened at $110.88 on Monday. The stock has a market cap of $23.02 billion, a P/E ratio of 15.43 and a beta of 1.08. The company has a fifty day moving average price of $106.95 and a two-hundred day moving average price of $102.94. Raymond James has a one year low of $81.96 and a one year high of $117.37. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.97.

Raymond James (NYSE:RJFGet Rating) last issued its quarterly earnings data on Wednesday, January 26th. The financial services provider reported $2.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.35. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.67 billion. Raymond James had a net margin of 14.68% and a return on equity of 20.04%. During the same period in the prior year, the firm earned $1.49 earnings per share. As a group, equities research analysts anticipate that Raymond James will post 7.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 18th. Stockholders of record on Monday, April 4th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, April 1st. Raymond James’s payout ratio is presently 18.77%.

RJF has been the topic of a number of analyst reports. Citigroup lowered their price target on Raymond James from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday. Seaport Res Ptn raised shares of Raymond James from a “neutral” rating to a “buy” rating in a research note on Friday, January 28th. JMP Securities downgraded shares of Raymond James from an “outperform” rating to a “market perform” rating in a research note on Monday, January 10th. Zacks Investment Research downgraded shares of Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 target price for the company. in a research note on Wednesday, March 30th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $128.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, April 11th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of “Buy” and an average price target of $131.05.

About Raymond James (Get Rating)

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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