LPL Financial LLC boosted its stake in Raymond James (NYSE:RJF - Free Report) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,692 shares of the financial services provider's stock after purchasing an additional 10,906 shares during the quarter. LPL Financial LLC's holdings in Raymond James were worth $15,175,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RJF. TCTC Holdings LLC raised its position in shares of Raymond James by 176.7% in the 4th 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 during the period. Y.D. More Investments Ltd raised its holdings in 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 purchasing an additional 127 shares during the period. Plato Investment Management Ltd boosted its position 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 purchasing an additional 217 shares in the last quarter. Quarry LP grew its holdings in shares of Raymond James by 80.3% in the 3rd 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 period. Finally, Eastern Bank acquired a new stake in Raymond James during the 4th quarter worth $68,000. Institutional investors own 83.83% of the company's stock.
Raymond James Stock Down 5.2 %
Shares of NYSE RJF traded down $6.77 during mid-day trading on Friday, hitting $123.51. The company had a trading volume of 3,460,789 shares, compared to its average volume of 1,257,154. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a market capitalization of $25.31 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. 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 firm has a 50-day simple moving average of $152.41 and a two-hundred day simple moving average of $150.76.
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 for the quarter, beating analysts' consensus estimates 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, equities analysts expect that Raymond James will post 11.17 EPS for the current year.
Raymond James Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.62%. Raymond James's dividend payout ratio is presently 19.51%.
Wall Street Analyst Weigh In
RJF has been the subject of several recent analyst reports. UBS Group upgraded Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. The Goldman Sachs Group lowered their target price on Raymond James from $198.00 to $173.00 and set a "buy" rating for the company in a research note on Thursday. Bank of America lifted their price target on shares of Raymond James from $198.00 to $201.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. JMP Securities increased their price objective on shares of Raymond James from $175.00 to $190.00 and gave the stock a "market outperform" rating in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $164.64.
Check Out Our Latest Stock Analysis on RJF
Raymond James Company Profile
(
Free Report)
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.
Further Reading
Before you consider Raymond James, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Raymond James wasn't on the list.
While Raymond James currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
