Raymond James (NYSE:RJF) Position Decreased by Legal & General Group Plc

Legal & General Group Plc decreased its stake in shares of Raymond James (NYSE:RJF - Free Report) by 17.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,260,648 shares of the financial services provider's stock after selling 273,529 shares during the period. Legal & General Group Plc owned 0.62% of Raymond James worth $195,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Assetmark Inc. boosted its position in Raymond James by 43.8% during the 4th quarter. Assetmark Inc. now owns 453 shares of the financial services provider's stock valued at $70,000 after buying an additional 138 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Raymond James in the fourth quarter worth about $105,701,000. Franklin Resources Inc. raised its position 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 in the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Raymond James in the 4th quarter worth about $511,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Raymond James during the fourth quarter valued at $21,334,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent research reports. 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 report on Thursday, January 30th. 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. JMP Securities reduced their target price on shares of Raymond James from $190.00 to $175.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price objective on shares of Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, UBS Group raised shares of Raymond James from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. 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's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $160.27.

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Raymond James Price Performance

Shares of RJF traded up $2.21 during mid-day trading on Tuesday, reaching $137.24. 386,919 shares of the company's stock were exchanged, compared to its average volume of 1,287,742. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The company has a 50-day simple moving average of $145.46 and a two-hundred day simple moving average of $151.42. The company has a market cap of $28.12 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.90 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (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%. On average, sell-side analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The business 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. This represents a $2.00 annualized dividend and a dividend yield of 1.46%. 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.