Harvest Fund Management Co. Ltd Purchases Shares of 4,130 Raymond James (NYSE:RJF)

Harvest Fund Management Co. Ltd purchased a new stake in Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,130 shares of the financial services provider's stock, valued at approximately $641,000.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Raymond James by 31.4% during the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider's stock valued at $1,483,542,000 after buying an additional 2,898,242 shares during the last quarter. State Street Corp lifted its holdings in shares of Raymond James by 0.7% in the third quarter. State Street Corp now owns 7,974,740 shares of the financial services provider's stock worth $976,587,000 after buying an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock valued at $556,533,000 after buying an additional 488,245 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider's stock worth $531,013,000 after acquiring an additional 12,869 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Raymond James by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,078,166 shares of the financial services provider's stock worth $167,472,000 after buying an additional 13,817 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their price objective on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on Raymond James from $168.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, January 30th. JMP Securities upped their price target on Raymond James from $175.00 to $190.00 and gave the stock a "market outperform" rating in a research note on Thursday, January 30th. The Goldman Sachs Group raised Raymond James from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $161.00 to $185.00 in a report on Monday, January 6th. Finally, Bank of America raised their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Raymond James has a consensus rating of "Hold" and an average price target of $167.55.

Raymond James Stock Performance

RJF stock traded up $0.77 during midday trading on Tuesday, reaching $145.73. 988,478 shares of the company's stock traded hands, compared to its average volume of 1,172,648. The stock's 50-day moving average is $156.57 and its 200 day moving average is $149.91. Raymond James has a 52-week low of $104.24 and a 52-week 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 stock has a market cap of $29.86 billion, a P/E ratio of 14.22, a PEG ratio of 0.90 and a beta of 1.04.

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, beating 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, analysts anticipate 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 issued a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. Raymond James's dividend payout ratio is presently 19.51%.

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.