iA Global Asset Management Inc. Purchases 5,300 Shares of Raymond James (NYSE:RJF)

iA Global Asset Management Inc. grew its holdings in Raymond James (NYSE:RJF - Free Report) by 187.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,132 shares of the financial services provider's stock after purchasing an additional 5,300 shares during the period. iA Global Asset Management Inc.'s holdings in Raymond James were worth $1,263,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Assetmark Inc. lifted its position in Raymond James by 43.8% in the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock worth $70,000 after buying an additional 138 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Raymond James during the fourth quarter worth $105,701,000. Franklin Resources Inc. lifted its holdings in shares of Raymond James by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 568,070 shares of the financial services provider's stock valued at $73,940,000 after buying an additional 9,217 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Raymond James in the 4th quarter valued at approximately $511,000. Finally, Proficio Capital Partners LLC acquired a new position in Raymond James in the fourth quarter worth approximately $21,334,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RJF. JMP Securities lifted 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. JPMorgan Chase & Co. increased their price target on Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. StockNews.com downgraded shares of Raymond James from a "buy" rating to a "hold" rating in a report on Monday, February 10th. UBS Group upgraded shares of Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their target price on Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $167.55.

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Raymond James Stock Performance

RJF traded down $1.25 during trading on Wednesday, reaching $144.46. 1,314,488 shares of the company's stock were exchanged, compared to its average volume of 1,171,709. The company has a market capitalization of $29.60 billion, a P/E ratio of 14.09, a PEG ratio of 0.90 and a beta of 1.04. 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 business has a 50 day moving average price of $156.35 and a 200 day moving average price of $150.12. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32.

Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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, 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Tuesday, April 1st. Raymond James's dividend payout ratio (DPR) is 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.