Cahaba Wealth Management Inc. lowered its stake in Raymond James (NYSE:RJF - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,254 shares of the financial services provider's stock after selling 4,000 shares during the period. Raymond James makes up 0.5% of Cahaba Wealth Management Inc.'s holdings, making the stock its 20th biggest holding. Cahaba Wealth Management Inc.'s holdings in Raymond James were worth $6,563,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. TCTC Holdings LLC increased its position in Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd grew its position in Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd increased its holdings in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd boosted its stake in shares of Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in shares of Raymond James during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 83.83% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on RJF shares. Citigroup decreased their price target on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com downgraded Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Raymond James presently has an average rating of "Hold" and an average target price of $160.27.
Check Out Our Latest Stock Report on RJF
Raymond James Stock Performance
Shares of RJF stock traded up $1.30 during trading on Friday, hitting $133.48. The company's stock had a trading volume of 2,421,796 shares, compared to its average volume of 1,300,324. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The company has a market cap of $27.35 billion, a PE ratio of 13.02, a P/E/G ratio of 0.90 and a beta of 0.94. The business has a fifty day moving average of $142.94 and a 200-day moving average of $151.33. 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 issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, research analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.
Raymond James Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.50%. Raymond James's payout ratio is currently 19.51%.
Raymond James Profile
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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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