Envestnet Asset Management Inc. Lowers Stock Position in Raymond James (NYSE:RJF)

Envestnet Asset Management Inc. trimmed its holdings in shares of Raymond James (NYSE:RJF - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,066,153 shares of the financial services provider's stock after selling 53,864 shares during the quarter. Envestnet Asset Management Inc. owned 0.52% of Raymond James worth $165,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RJF. Assetmark Inc. increased its holdings in shares of Raymond James by 43.8% during the fourth quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 138 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Raymond James during the 4th quarter valued at approximately $105,701,000. Franklin Resources Inc. raised its holdings in shares of Raymond James by 1.6% in the third quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider's stock worth $73,940,000 after buying an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Raymond James during the fourth quarter worth $511,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Raymond James in the 4th quarter valued at $21,334,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

Shares of RJF stock traded up $3.04 during trading hours on Friday, hitting $135.27. 2,090,230 shares of the company's stock were exchanged, compared to its average volume of 1,292,325. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $146.07 and a two-hundred day moving average of $151.13. The firm has a market cap of $27.72 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.90 and a beta of 0.94. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

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Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Sell-side analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.48%. Raymond James's payout ratio is presently 19.51%.

Analyst Upgrades and Downgrades

RJF has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Morgan Stanley increased their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. JMP Securities cut their price objective on shares of Raymond James from $190.00 to $175.00 and set a "market outperform" rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their target price on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of "Hold" and a consensus price target of $160.27.

Raymond James 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.