KBC Group NV Grows Position in Raymond James (NYSE:RJF)

KBC Group NV boosted its stake in Raymond James (NYSE:RJF - Free Report) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,951 shares of the financial services provider's stock after purchasing an additional 90,845 shares during the period. KBC Group NV owned about 0.20% of Raymond James worth $50,570,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. AGF Management Ltd. lifted its position in shares of Raymond James by 17.2% during the second quarter. AGF Management Ltd. now owns 2,580,467 shares of the financial services provider's stock valued at $318,972,000 after purchasing an additional 378,033 shares in the last quarter. Earnest Partners LLC lifted its stake in Raymond James by 1.5% in the 2nd quarter. Earnest Partners LLC now owns 2,505,369 shares of the financial services provider's stock worth $309,689,000 after purchasing an additional 37,173 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Raymond James by 1.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,215,996 shares of the financial services provider's stock worth $273,919,000 after buying an additional 25,494 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Raymond James by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,024,612 shares of the financial services provider's stock valued at $250,238,000 after purchasing an additional 113,826 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in Raymond James by 2.1% in the second quarter. APG Asset Management N.V. now owns 1,874,140 shares of the financial services provider's stock valued at $216,153,000 after acquiring an additional 38,695 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company's stock.

Raymond James Price Performance

Raymond James stock traded up $0.52 during mid-day trading on Friday, hitting $160.67. 1,026,751 shares of the company were exchanged, compared to its average volume of 1,141,549. The company has a market capitalization of $33.09 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.81 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. Raymond James has a 1-year low of $102.42 and a 1-year high of $163.45. The business has a fifty day moving average of $134.32 and a 200 day moving average of $124.24.

Raymond James (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. Raymond James's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 EPS. As a group, sell-side analysts expect that Raymond James will post 10.78 earnings per share for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. Raymond James's payout ratio is presently 18.54%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Raymond James from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Thursday, July 25th. JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the company a "market outperform" rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on shares of Raymond James from $140.00 to $152.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, Morgan Stanley raised their price target on Raymond James from $132.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $140.91.

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.