Marshall Wace LLP cut its stake in shares of Raymond James (NYSE:RJF - Free Report) by 80.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,258 shares of the financial services provider's stock after selling 302,354 shares during the quarter. Marshall Wace LLP's holdings in Raymond James were worth $11,069,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TCTC Holdings LLC increased its stake in shares of Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 106 shares during the period. Y.D. More Investments Ltd grew its holdings in Raymond James by 121.0% in the 4th 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 in the last quarter. Plato Investment Management Ltd increased its position in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 217 shares during the period. Covestor Ltd raised its stake in Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 122 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Raymond James during the 4th quarter worth $53,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on RJF. JMP Securities reissued a "market outperform" rating and set a $175.00 price target on shares of Raymond James in a report on Thursday. Cowen reaffirmed a "hold" rating on shares of Raymond James in a research note on Thursday. Morgan Stanley increased their price objective on shares of Raymond James from $149.00 to $161.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. cut their target price on Raymond James from $149.00 to $143.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Wells Fargo & Company decreased their price target on Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $157.64.
Read Our Latest Stock Analysis on Raymond James
Raymond James Trading Up 0.2 %
RJF stock traded up $0.24 during mid-day trading on Friday, reaching $137.50. 1,139,466 shares of the stock traded hands, compared to its average volume of 1,301,983. The stock's fifty day moving average is $140.90 and its 200-day moving average is $151.59. The company has a market cap of $28.18 billion, a P/E ratio of 13.41, a P/E/G 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. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32.
Raymond James (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.02). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. During the same quarter in the previous year, the business posted $2.31 earnings per share. As a group, sell-side analysts expect that Raymond James will post 11.17 earnings per share for the current year.
Raymond James Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, April 1st. Raymond James's dividend payout ratio (DPR) is presently 19.25%.
About Raymond James
(
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.
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