KLP Kapitalforvaltning AS Takes $10.51 Million Position in Raymond James (NYSE:RJF)

KLP Kapitalforvaltning AS bought a new stake in shares of Raymond James (NYSE:RJF - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 67,678 shares of the financial services provider's stock, valued at approximately $10,512,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RJF. TCTC Holdings LLC increased its holdings 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 acquiring an additional 106 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock worth $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd lifted its stake in shares of Raymond James by 1,142.1% during the fourth 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 shares of Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider's stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Raymond James in the 4th quarter valued at $68,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Price Performance

RJF stock traded down $1.53 during trading on Thursday, hitting $143.01. The stock had a trading volume of 303,918 shares, compared to its average volume of 1,169,896. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company's 50-day moving average price is $156.01 and its two-hundred day moving average price is $150.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The stock has a market capitalization of $29.30 billion, a P/E ratio of 13.95, a PEG ratio of 0.90 and a beta of 1.04.

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Raymond James (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.40%. Raymond James's payout ratio is 19.51%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RJF. Citigroup lifted their price target on Raymond James from $145.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Bank of America increased their price target on shares of Raymond James from $198.00 to $201.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Morgan Stanley increased their price objective on shares of Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group upgraded Raymond James from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, JMP Securities upped their target price 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. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $167.55.

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.