Candriam S.C.A. Buys 4,767 Shares of Raymond James (NYSE:RJF)

Candriam S.C.A. boosted its stake in Raymond James (NYSE:RJF - Free Report) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,810 shares of the financial services provider's stock after acquiring an additional 4,767 shares during the period. Candriam S.C.A.'s holdings in Raymond James were worth $3,232,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in RJF. Gladius Capital Management LP bought a new stake in Raymond James in the third quarter worth about $34,000. Y.D. More Investments Ltd raised its position in Raymond James by 121.0% in the fourth 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 period. Peterson Financial Group Inc. bought a new stake in Raymond James in the third quarter worth about $37,000. Plato Investment Management Ltd raised its position in Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after acquiring an additional 217 shares during the period. Finally, Quarry LP raised its position in Raymond James by 80.3% in the third quarter. Quarry LP now owns 420 shares of the financial services provider's stock worth $51,000 after acquiring an additional 187 shares during the period. Institutional investors own 83.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. StockNews.com downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Wells Fargo & Company lifted their target price on shares of Raymond James from $168.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. JMP Securities lifted their target price on shares of Raymond James from $175.00 to $190.00 and gave the stock a "market outperform" rating in a research note on Thursday, January 30th. Finally, Bank of America lifted their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Nine research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $167.55.

Remove Ads

Raymond James Price Performance

Shares of NYSE:RJF opened at $143.35 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The stock has a market cap of $29.37 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a 50 day moving average of $159.80 and a 200 day moving average of $147.84.

Raymond James (NYSE:RJF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.40%. Raymond James's dividend payout ratio (DPR) is presently 19.51%.

Insider Transactions at Raymond James

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $159.47, for a total value of $1,594,700.00. Following the sale, the insider now directly owns 32,688 shares of the company's stock, valued at $5,212,755.36. This represents a 23.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.