Franklin Resources Inc. Increases Stock Position in Raymond James (NYSE:RJF)

Franklin Resources Inc. grew its position in Raymond James (NYSE:RJF - Free Report) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 571,788 shares of the financial services provider's stock after acquiring an additional 3,718 shares during the period. Franklin Resources Inc. owned 0.28% of Raymond James worth $88,816,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. TCTC Holdings LLC boosted its stake in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd boosted its position in Raymond James by 1,142.1% during the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock worth $37,000 after buying an additional 217 shares during the period. Quarry LP grew its holdings in Raymond James by 80.3% during the 3rd 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 last quarter. Finally, Eastern Bank bought a new position in shares of Raymond James during the fourth quarter valued at $68,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RJF shares. UBS Group raised Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Raymond James from $168.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. The Goldman Sachs Group lowered their price target on shares of Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a report on Thursday. JMP Securities upped their price objective on shares of Raymond James from $175.00 to $190.00 and gave the company a "market outperform" rating in a research note on Thursday, January 30th. Finally, Citigroup dropped their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Raymond James presently has a consensus rating of "Hold" and a consensus price target of $164.64.

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Raymond James Stock Down 5.2 %

Shares of RJF traded down $6.77 during trading hours on Friday, reaching $123.51. The stock had a trading volume of 3,460,789 shares, compared to its average volume of 1,258,883. The firm has a 50-day simple moving average of $151.43 and a 200 day simple moving average of $150.78. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. 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 capitalization of $25.31 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF - Get Free Report) last posted its earnings results 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%. Equities research analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.62%. Raymond James's dividend payout ratio is presently 19.51%.

Raymond James Company 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.